FBR invites customs related budget proposals for 2019/2020

FBR invites customs related budget proposals for 2019/2020

ISLAMABAD: Federal Board of Revenue (FBR) on Friday invited customs related proposals for federal budget 2019/2020.

The FBR invited all chamber of commerce and industry, trade associations and individuals for the customs related budget proposals for the fiscal year 2019/2020.

“The proposals may cover three areas i.e. changes in Customs Tariff rates, Rules/Procedures and Customs Act, 1969,” the FBR said.

It further said that in order to enable the Customs Wing of the FBR to properly process and evaluate each proposal, three separate formats had been prescribed.

The FBR advised 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,” the FBR added.

In case of local manufacturer claiming tariff protection on its finished products or concession on its raw materials, they should complete provided prescribed forms, without which it will not be possible to process these types of proposals.

The FBR advised business community to furnish their customs related proposals by February 28, 2019.