The Federal Board of Revenue (FBR) has extended an invitation to stakeholders, including businesses, experts, and the general public, to contribute their insights and proposals for income tax improvements in preparation for the budget of 2022/2023.
(more…)Category: Budget 2022-2023
-
Budget 2022/2023 to be presented in first week of June
ISLAMABAD: The government has scheduled the presentation of the budget for fiscal year 2022/2023 in the first week of June 2022, the finance ministry said on Thursday.
The finance ministry issued budget call circular 2022/2023. According to the circular, after completion of all budget documents and summaries by end of May 2022, the budget will be presented to the cabinet and the parliament in the first week of June 2022.
The ministry said that in compliance with the Articles of the Constitution of Pakistan, Public Finance Management Act, 2019 and Budget Manual 2020, Finance Division prepares budget for each financial year as a key policy document of the federal government.
READ MORE: MoC invites tariff proposals for budget 2022/2023
The budget call circular containing budget calendar, processes, instructions, forms for preparation and submission of detailed budget Actual (FY 2020-21), Revised Estimates (FY 2021-22) and Budget Estimates (FY 2022-23) relating to Receipts, Current and Development Expenditure of the Federal Government is attached herewith.
The Medium Term Indicative Budget Ceilings (IBCs) issued by Budget Wing, Finance Division in April, 2021, for Current and Development Budget for three years i.e. 2021-22, 2022-23 and 2023-24, may be considered as base line for submission of Budget Estimates.
READ MORE: FBR invites customs proposals for budget 2022/2023
Receipts, Current and Development Expenditure Estimates (Forms I – III) may be provided to Budget Wing, Finance Division before 15th March, 2022 by the respective Principal Accounting Officer (PAO). The remaining information may also be provided as per schedule given in Budget Calendar.
Foreign Exchange Budget Actual (FY 2020-21), Revised Estimates (FY 2021-22) and Budget Estimates (FY 2022-23) may also be provided as per attached FEB Forms (I-VI) in accordance with the specific instructions and general guidelines.
-
MoC invites tariff proposals for budget 2022/2023
The Ministry of Commerce (MoC) has opened the floor for budget proposals for the fiscal year 2022/2023, specifically focusing on potential changes in customs tariff rates.
(more…) -
FBR invites customs proposals for budget 2022/2023
The Federal Board of Revenue (FBR) has initiated the process for the upcoming fiscal year’s budget by inviting customs-related proposals for the financial year 2022/2023 from various stakeholders, including business chambers and associations.
(more…) -
SRB invites proposals for Budget 2022-2023
KARACHI: Sindh Revenue Board (SRB) has invited proposals for budget 2022/2023 from stakeholders by January 21, 2022.
The SRB said it was in process of formulating budgetary proposals for provincial budget 2022-2023 in relation to taxation and procedural provisions of Sindh Sales Tax on Services Act, 2011, the Sindh Sales Tax on Services Rules, 2011, the Sindh Sales Tax Special Procedure (Withholding) Rules, 2014, the Sindh Sales Tax Special Procedure (Transport or Carriage of Petroleum Oil through Oil Tankers) Rules, 2018 and the Sindh Sales Tax Special Procedure (Services provided or rendered by cab aggregator and the services provided or rendered by the owners or drivers of the motor vehicles using the cab aggregator service) Rules, 2019 and the various notifications issued under the Act 2011.
READ MORE: Sindh Revenue Board announces tax incentive package
The SRB said that it was policy of the board to consult all chambers, associations, groups, stakeholders and taxpayers before finalizing the budget proposals.
“With this end in view, SRB requests all persons (including the chambers of commerce and industry, business councils, trade associations, tax bars, Institution of Chartered Accountants, Institute of Cost and Management Accountants, taxpayers, etc.) to send their written proposals latest by Friday, January 21, 2022.