FBR Chairman Claims Next Budget to be People-Friendly

Federal Board of Revenue (FBR) Chairman Javed Ghani said that the next fiscal budget would be people-friendly but unnecessary relief given in different taxes would be spared.

In an interview with News360, he assured that tax exemptions on medical equipment used for the treatment of coronavirus would be upheld.

FBR Chairman said that the next budget would be people-friendly as they would take many relief measures.

He added that the preparations for the next fiscal budget are already underway.

For this purpose, all chambers, traders’ associations, manufacturers of different, and other stakeholders are welcome to submit their proposals by the third week of March, he added.

FBR chairman asserted that the board’s proposals would comprise of suggestions to provide relief to a common man. For this purpose, FBR chairman told exemptions on food items and daily-use commodities will be maintained in the next budget too.

On increased revenue collection, the official said that there has been a growth in large-scale manufacturing in the country during the current fiscal year which has increased the generation of sales tax.

Besides this, FBR chairman opined that the resurrection of industries would create employment opportunities too.

The official endorsed the fact that tax exemptions have helped the local industry to rise again while the graph of exports has also moved up.

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On a question, Javed Ghani said the revenue collection body would formulate strict measures to eliminate smuggling in the upcoming budget.

He added that the percentage of luxurious tax will be increased in the next budget while unnecessary exemptions will be revoked.