Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired a virtual meeting of the FBR Technical Committee today. Chairman FBR Muhammad Javed Ghani and other senior officials participated in the meeting. Mr. Abid Shaban, Chairman of the Committee gave a detailed presentation during the meeting.
After due deliberation, it was decided to engage experts as co-opted members to streamline the working of the Technical Committee. Representatives of the Commerce and Industries Divisions will also be included to further strengthen the Technical Committee.
During the meeting, ‘FASTER’ system of Sales Tax Refund for exporters was appreciated. It was agreed that both FASTER and Rebates Systems will be fine-tuned for more efficient results on a priority basis.
Technical Committee directed the Ministry of Commerce to clear the backlog with reference to DLTL refunds expeditiously.
FBR will devise a strategy for liquidation of pending income tax returns. Adviser Finance urged the Technical Committee to simplify relevant procedures ensuring clarity and transparency in revenue collection.
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