The federal government has agreed to the recommendations submitted by Pakistan Tax Bar Association for inclusion in the upcoming budget 2017-18. The agreement was reached in a meeting between a delegation of PTBA headed by its president Mohsin Nadeem with policymakers in tax matters, including Haroon Akhtar Khan, Senior Advisor to Prime Minister for Revenue, Dr Irshad, Chairman FBR and Dr Iqbal, Member, Inland Revenue Policy.

The meeting held in Islamabad on Monday evening discussed in detail the recommendations put forward by Pakistan Tax Bar Association for greater confidence building and smooth transactions between taxpayers and the relevant government bodies. The PTBA delegation was assured by the policymakers that almost all the recommendations would become part of the national budget. The PTBA recommendations included settlement of pending audit and amendment proceedings/litigation through Tax Recovery based on mutual agreement and consent, prevention of sudden suspension and black listing of registration without prior notice and due process and approval by the Chief Commissioner, restraining bank attachment and recovery notices pending first appeal decision, discouraging raid, impounding of record, registration of an FIR and arrest under Sales Tax Act 1990 and section 175 of the Income Tax Ordinance 2001 without solid reason and due process / prior approval of FBR / consent of PTBA, discouraging wrongful invoking of Section 122(5) (5A) of Income Tax Ordinance 2001 and conducting audit under the garb of this section, stopping reopening of the Final Order of the Honourable Appellate Tribunal in the absence of availing the remedy of reference by the department and expediting the pending Exemptions and Refund applications. After the meeting, Mohsin Nadeem, President PTBA, expressed gratitude towards the government officials for paying heed to their recommendations and also for the assurance to make them part of the new policy.-PR

Copyright Business Recorder, 2017