Friday , May 25 2018
Breaking News
Home / Islamabad / Tax Reform Implementation Committee for modifying ADR system
Tax Reform Implementation Committee for modifying ADR system
New Zealand meat, wine exports to face uncertainty on U.S border tax

Tax Reform Implementation Committee for modifying ADR system

ISLAMABAD: In a bid to decrease litigation of Rs 300 billion stuck up in appeals, Tax Reform Implementation Committee (TRIC) has decided to modify the system of Alternative Dispute Resolution (ADR) committees in next budget.

The Federal Board of Revenue has chalked out a robust strategy for the revival of the ADR system in coming budget (2016-17). It has been suggested that an ADR committee be constituted within 30 days of receipt of application by taxpayer and recommendations be furnished by the committee within 60 days.

In the previous meeting of the TRIC, a sub-committee was constituted which was tasked with submitting proposals with regard to constitution of ADR committees in the existing legal framework. The convenor of the aforementioned sub-committee, Member (Legal), FBR made a comprehensive presentation on the existing legal framework of alternate dispute resolution and the amendments introduced in the relevant provisions through the Finance Act, 2016.

The committee was apprised that over 27000 cases are pending before the Appellate Tribunal Inland Revenue (ATIR), 5000 cases before the customs tribunal whereas approximately 13000 cases are pending before various high courts. The committee was also informed that it is estimated that a substantial amount of revenue aggregating Rs 300 billion is stuck up in appeals.