Karachi
May 11, 2021
KARACHI: Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) has submitted its pre-budget recommendations to the Federal Board of Revenue (FBR), Ministry of Finance, and other Government organizations for consideration in the forthcoming Federal Budget 2021-22.
The Fiscal Budget Proposals 2021-22 of the Institute covers not only Tax-related proposals including Income tax, Sales tax, Customs Duty, and Federal Excise but also Sector/Industry related proposals covering around 16 industries. The ICMA budget booklet also has a special chapter on the proposals for Export-oriented companies.
The primary intention of these proposals is to create an enabling environment for the private sector and businesses to flourish and promote industrial productivity, investment, and economic growth in the country. It has been recommended in the proposals that in order to support ease of doing business, harmonization should be achieved between various tax and