Confusion as FBR circular mistaken for govt’s new revenue measures

A circular explaining the previous govt.’s tax cuts and adjustments was uploaded to the FBR website early in the day on Thursday (13th Sep), causing embarrassment to the govt. since it triggered a flurry of questions about its relationship to the coming finance bill that will be tabled before the National Assembly on Tuesday (11th Sep). The circular was actually due four months ago and was issued despite the incumbent govt.’s announcement to reverse the tax concessions. The explanatory circular is usually released within weeks once the National Assembly has passed the budget document.