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New RPOs will be released after approval of finance minister: Chairman FBR Tariq Pasha

New RPOs will be released after approval of finance minister: Chairman FBR Tariq Pasha

ISLAMABAD: Federal Board of Revenue (FBR) chairman Tariq Mehmood Pasha has informed the Senate standing Committee for Finance that unless the completion of the payment of the first RPO, the payment process of second RPO cannot be started. However, he said that the new RPOs will be released after the permission from the finance minister.

He also briefed the committee that after the computerization of the system many problems have been resolved. The meeting of Senate Standing Committee on Finance was held in the Parliament House under the chairmanship of Senator Saleem Mandvi Wala.

The Finance Committee reviewed the recommendations made by the Standing Committee in Finance Bill 2017 and the various companies refund cases, in details which were suspended by the Federal Board of Revenue.

The chairman of the committee said that amount from the bank accounts of various companies are taking out without any notice by FBR. This act is affecting on the business and investment very seriously in the country and cause negative feelings in the public.

Chairman FBR told the committee that the companies whose taxes issues were resolved the money has been returned to them and those companies who have objections and their amounts are still pending with FBR, these companies can contact us at any time.

Chairman FBR said the latest RPOs was issued during the last Financial Year in July and November, now the finance minister is abroad as soon as he comes back we will discuss with him regarding the tax refund issues.

Senator Saleem Mandviwala said that it was strange that the in past a clerk was authorized to refund the tax amounts but now the prime minister is returning the money of the people’s refund. The Standing Committee reviewed the progress on implementation of proposed amendments in the Finance Bill 2017.

FBR officials told the Committee that the Senate Committee had proposed 279 amendments in Finance Bill 2017-18 and among them 112 suggestions were regarding the FBR.  More than 80% of the Standing Committee suggestions had been approved. There were many suggestions regarding the powers of federal government and FBR, which have not approved.

The chairman of the Committee also revealed that when the proposed amendments of the Senate were presented in the National Assembly, there were such amendments included by the federal government which were neither included in the finance bill nor discussed in senate finance Committee. The FBR should be informed the senate committee about the recommendations made by the government in the Finance Bill 2017.

The Committee also decided that the suggestions which are not yet approved, they will be raised again in the next financial year. The standing committee has took the serious notice of non-participation in the committee meetings of the Federal Finance Minister.

he Standing Committee meeting attend by the Senators Nasreen Jalil, Sardar Fateh Muhammad Muhammad Hassani, Saud Majeed, Mohsin Aziz, Chairman FBR Tariq Mahmood Pasha, Member IR Policy Dr,Muhammad Iqbal, Member Customs Muhammad Zahid Khokhar .