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Budget 2020-21 presented in tough times & attempted extend relief to common people

Budget 2020-21 presented in tough times & attempted extend relief to common people

LAHORE: Federal Board of Revenue FBR chairperson Nausheen Amjad Javaid has said that the Budget 2020-21 has been presented in tough times and attempted extend relief to the common people while no new taxes are imposed instead existing taxes are either abolished or reduced.

She stated this while addressing a joint post budget session with Pakistan Tax Bar Association (PTBA) and Lahore Tax Bar Association (LTBA) in Lahore.

“Tax bars are important stakeholders and if they have any issues, these issues can be resolved ” she said.

PTBA President Aftab Nagra, Senior Vice President Qari Habibur Rehman Zubari and General Secretary Ferhan Shahzad and Finance Secretary Shahbaz Siddique said that although the government has tried to extend the relief to taxpayers by abolishing withholding tax, there are yet so many laws requiring revision

They added that cases of audit and appeal are required to be resolved and steps must be taken to avoid litigations.

Other speakers including Asim Zulfiqar, Islamabad PTP senior vice president Tanseer Bukhari, LTBA president Khurram Shahbaz Butt, VP Asiq Ali Rana, PTBA former presidents including Shahbaz Butt, Naeem Shah, Rana Munir Hussain and others were present on the occasion.

The speakers said that the government needs to take such steps that could increase revenue collection and achieve targets restoring taxpayers confidence.

The said that 400 companies are paying 70 percent of the total collection.

Instead of creating panic in the whole country a few more companies should be taken into confidence to achieve the revenue targets easily.

Meanwhile, FBR chairperson also nominated PTBA patron-in-chief Abdul Qadir Memon member of Budget Anomaly Committee of FBR.