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FTO hears tax refund appeal filed by M/s Volta Dies Moulds against CRTO

FTO hears tax refund appeal filed by M/s Volta Dies Moulds against CRTO

LAHORE: The Federal Tax Ombudsman (FTO) heard an appeal filed by M/s Volta Dies Moulds against the Corporate Regional Tax Office (CRTO) and adjourned the hearing until the next date.

On 13.9.2018, FTO Adviser Mian Munawar Ghafoor heard the case in which counsel for the appellant argued that Corporate Regional Tax Office (CRTO) has failed to release the tax refunds since last two years claimed by the company.

The counsel further argued that RTO collected excessive taxes for the last two years. He approached the commissioner concerned several times for the release of refunds but the CRTO officials did not entertain his requests, even after the lapse of a reasonable time.

At the end, the company decided to approach the FTO seeking his intervention in this case. The counsel appealed to the FTO advisor to direct the CRTO to clear the refund claims on priority basis.

The counsel further said the CRTO should refund the additional collection of taxes by the end of financial year. Delay in release of refunds puts burden on the taxpayer, he said, adding that the CRTO Lahore should audit the case and release the extra amount collected from the taxpayer.

After hearing the arguments from both sides, the FTO advisor adjourned the hearing of case till next date for further hearing and directed the parties to appear on said date to conclude arguments in the case.