The National Board of Revenue (NBR) has sought budget proposals from stakeholders, including the chambers, associations and think-tanks, as part of its preparation for framing the national budget for fiscal year 2021-2022.
The NBR sent letters to the stakeholders concerned seeking budget proposals on Thursday.
The revenue authorities sent letters on Thursday asking the chambers and associations to submit their recommendations on the national budget in written before the country’s apex trade body FBCCI by March 8.
The NBR usually prepares the revenue policy while preparing the fiscal budget with the finance division, said a NBR official.
The NBR official said they are hopeful of starting their pre-budget discussions from the first week of March or April where leaders of various chambers and trade bodies alongside various professionals would be able to take part.
Every year, the NBR seeks budget proposals from the various trade bodies and associations, professional organizations, research firms, and intellectuals and discuss with them the fiscal policy, including, revenue collection process in order to frame a participatory and business-friendly national budget.
"The NBR has sought proposals from the chamber and trade bodies as it considers making the revenue collection operations effective and participatory," the NBR official said, adding that the rational proposals of the chambers and trade bodies will be incorporated in the national budget for the benefits of business people.
Besides, those organizations or institutions which are not members of any trade body or association would be able to send their budget recommendations directly to the mail address of NBR.
