National budget 2009-10 likely on June 13

admin — Fri, 29 May 2009 14:25:28 +0000

ISLAMABAD: The announcement of the National Budget for the financial year 2009-10 is scheduled for June 13 (Saturday). “All the budgetary proposals and recommendations received by the ministry of finance from the various stakeholder have been sent to Federal Board of Revenue (FBR) for the finalization of the proposals and would be completed by May 31 (Sunday), a top official of the Ministry of Finance told. He further said that the meeting of the National Economic Council (NEC) to approve the Public Sector Development Programme (PSDP) 2009-10 would be held on June 1. He said that Ministry of Finance has received a number of recommendations and proposals from various ministries and departments to be incorporated in the upcoming budget. After the finalization of these proposals and approval from the cabinet, the final budget for the next financial year would be presented in the Parliament on June 13. He said that it has been the regular exercise of the finance ministry to circulate to the ministries and divisions asking them for recommendations and proposals on the projected revenues and expenditures. When asked about the proposed outlay for the forthcoming budget, he said that he was not in a position to tell the outlay at this stage as the ministry has to finalize the budget for the next financial year.

Changes in income tax commissioners’ authorities draft

admin — Thu, 21 May 2009 11:34:53 +0000

ISLAMABAD: Federal Board of Revenue (FBR) has amended the legal draft for income tax commissioners power and removed the complications existed in the draft. Special notification has been issued in this connection, which clearly defines the authorities of income tax commissioners. Talking to Geo News, the officials of FBR said income tax commissioners’ powers were described in 2002 according to which commissioners had powers to carry out raids and made arrests. On the other hand, FBR has exempted tax on cash deposited in Prime Minister’s special funds for IDPs.

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National budget 2009-10 likely on June 13

Changes in income tax commissioners’ authorities draft