ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for submitting customs related budget proposals for 2019/2020.
In a notification to all chambers and association, the FBR said that the board issued a letter on January 25, 2019 for submitting customs proposals for budget 2019/2020.
The proposals would cover three areas i.e. changes in Customs Tariff rates, Rules/Procedures and Customs Act, 1969.
The FBR said that to enable the Customs Wing of the FBR to properly process and evaluate each proposal, three separate formats had been attached to the letter for preparing the proposals on MS Excel Sheets.
The FBR said that while formulating the proposals, provision of the existing customs tariff rates/law may carefully be studied/consulted.
Wherever required the proposal may be supported with the statistical data etc. so that it is not dropped on account of any such infirmity.
In case of local manufacturer claiming tariff protection on its finished products or concession o its raw materials, complete given annexure as well, without which it would not be possible to process these types of proposals.
It is requires that the proposals may be sent to the FBR by March 25, 2019.
The government is scheduled to announce the budget 2019/2020 in the first week of June 2019.