Finance Bill 2024: FBR sets up two ‘anomaly committees’

ISLAMABAD: The Federal Board of Revenue (FBR) has constituted two anomaly committees in order to identify and remove the business-related and technical anomalies in the Finance Bill 2024.

In this regard, the FBR has issued notifications here on Saturday.

According to the FBR’s notification, Chairman, Federal Board of Revenue/Secretary Revenue Division has constituted an Anomaly Committee in order to identify and remove the business related anomalies in the Finance Bill 2024. The Committee shall be comprised of the following members:

Anomaly Committee – Business: Chairman Atif Ikram Sheikh, President, FPCCI; Gohar Ijaz, Patron, All Pakistan Textile Mills Association.

Co-Chairperson Ashhad Jawwad, Member (Customs-Policy), FBR; Ms. Amna Faiz Bhatty, Member (IR -Policy), FBR.

Members of the committee are Kashif Anwar, President, LCCI, Lahore; Iftikhar Ahmad Sheikh, President, KCCI, Karachi; Muhammad Fuad Ishaq, President, Sarhad Chamber, Peshawar; Haji Abdullah Achakzai, President, Quetta Chamber; Ahsan Zafar, President, Islamabad Chamber; Dr. Khurram Tariq, President, Faisalabad Chamber; Khurram Mukhtar, Patron, PTEA, Faisalabad; Shabbir Dewan, Chairman, Pakistan Business Council and Kh. Shahzeb Akram, ex-Senior Vice President, FPCCI

Terms of Reference (TOR) of the committee is to review the business related anomalies identified in the Finance Bill 2024 and give recommendations to FBR for removal of the anomalies.

The committee may co-opt member(s) with consensus if required. Anomalies can be submitted on or before close of office hours on June 20th, 2024 to the Co-Chairperson, Anomaly Committee; in their offices at Room No.316 (Customs) and Room No.355 (IR), 3’d Floor, FBR House, Islamabad.

According to the second notification, Chairman, Federal Board of Revenue/Secretary Revenue Division has constituted the Anomaly Committee in order to identify and remove the technical anomalies in the Finance Bill 2024.

Anomaly Committee -Technical shall be comprised of the following members: Chairman Adnan Rizvi, Managing Partner, KPMG.

Co-Chairperson Ashhad Jawwad, Member (Customs-Policy), FBR and Ms. Amna Faiz Bhatty, Member (IR -Policy), FBR.

Members of the committee are Asif Haroon, AF Ferguson & Co. Karachi; Anwar Kashif Mumtaz, President, All Pakistan Tax Bar Association; Faraz Anwar, AF Ferguson & Co; Syed Hamid Ali Shah, Addl. Secretary Commerce Division; Shahzad Ahmed Malik, President ICMAP; Habib Fakhruddin, CA, Rawalpindi; Abdul Qadir Memon, former Patron-in-Chief & President, APTBA; Kamal Hassan Siddiqui, Balochistan Tax Bar, Quetta and Saifullah, Partner, Rafaqat Babar & Co., Peshawar.

Terms of Reference (TOR) of the committee are to review the technical anomalies identified in the Finance Bill 2024, and give recommendations to FBR for removal of the anomalies 2. The Committee may co-opt member (s) with consensus if required. Anomalies can be submitted on or before close of office hours on June 20th 2024 to the Co-Chairperson, Anomaly Committee; in their offices at Room No.316 (Customs) and Room No.355 (IR), 3’” Floor, FBR House, Islamabad, the FBR added.

Copyright Business Recorder, 2024