The National Board of Revenue (NBR) has sought recommendations from business and professional bodies regarding income tax-related laws as part of its exercise to frame proposals for the next fiscal year (FY) 2025-26.

In a letter to trade bodies, professional organisations, and state investment promotion agencies, the tax administration said, "Direct tax plays a vital role in overall revenue collection and contributes to the economy."

The revenue board said that it began the exercise to make the direct tax process "timely and participatory" in fiscal year 2024-25.

To that end, the NBR sought observations from stakeholders on the Income Tax Act 2023, rules on withholding tax, the Travel Tax Act 2003, and the Gift Tax Act 1990 by February 20 of this year.

In a separate notice, the tax policy wing of the revenue board asked its field offices to provide their observations on the tax laws.