FBR Starts Consultative Process with KCCI for Taxation in Budget FY23

The Federal Board of Revenue (FBR) has started a consultative process with the Karachi Chamber of Commerce and Industry (KCCI) for the taxation policy in the federal budget 2022-23. Sources told Propakistani that the KCCI held a virtual meeting with the FBR members on budget proposals for the industry and trade. The meeting was held on Thursday and attended by the senior FBR officials. The meeting mainly focused on measures to address taxation-related problems of the business community. The tax policy-related proposals were submitted by the said chamber to the FBR. The FBR high-ups would take input from KCCI in the compilation of the federal budget for 2022-23. The meetings between the KCCI and the budget makers of the FBR would continue till June 2022, FBR sources added. KCCI has compiled proposals for the federal budget 2022-2023 based on recommendations and feedback from its members, representatives of major business sectors, and senior advisers. The KCCI is acutely aware of the ground realities of trade and industry and well-acquainted with the micro and macro issues faced by the business community. Therefore, the proposals presented here for the upcoming budget carry pivotal importance.