ISLAMABAD: The Federal Board of Revenue (FBR) has asked the business community to suggest new taxation measures for increasing of incidence of tax on affluent classes. In this regard, the FBR has sought budget proposals from the business and trade for new fiscal year.
According to the FBR, in order to enhance the budget formulation process and to reduce backend procedural burdens, the FBR plans to commence its budget process earlier this year. “As a plan, we have started developing proposals for the Finance Bill, 2026. In pursuit of leveraging the collective expertise and insights of all stakeholders to refine tax policies, we cordially invite proposals for the forthcoming Budget.”
The input/suggestions in the following policy areas shall be highly appreciated, FBR added.
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Broadening of tax base for a wider participation in revenue generation efforts, policy suggestions for bringing entire value chain of all businesses in GST regime, promoting progressive taxation by introducing various measures where incidence of tax is higher on affluent classes, phasing out of tax concessions and exemptions under all tax laws, facilitation of taxpayers and ease of doing business by removal of redundancy and simplification of tax laws and measures to reduce tax arbitrage opportunities and infuse efficiency in economy by following neutrality principle in taxation and removal of tax distortions, procedural lapses and anomalies.
The areas identified above are just illustrative and not exhaustive. The proposals are expected to be clear, meaningful and implementable though addition, deletion, or further amendments to the tax laws, FBR remarked.
Copyright Business Recorder, 2026
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