ISLAMABAD: Federal Board of Revenue has constituted two high-level committees for taking appropriate measures to control smuggling, under-invoicing and issuing sales tax refunds besides resolving the issues facing the steel industry. It is learnt that FBR has issued a letter to the Lahore Chamber of Commerce and Industry (LCCI) for constitution of special committees to resolve problems of the business community.
In this regard FBR has nominated senior officials for the special committees. According to FBR, the special committee to look into steel industry issues would comprise Muhammad Ashraf Khan, Member IR Operations and Shafqat Mahmood, Chief Commissioner IR, Regional Tax Office, Lahore.
Sources said that the committee would check payment of sales tax by steel sector under Sales Tax Special Procedure and normal tax payment procedure. The committee would further investigate as to how many units are operating under the Sales Tax Special Procedure and their actual contribution in the form of sales tax as well as how many units are making sales tax payment under normal tax payment procedure.
The committee on smuggling, underinvoicing and refunds would comprise Nisar Muhammad, Member Customs, FBR and Junaid Akram, Collector OF MCC (Preventive), Lahore. FBR has asked LCCI to co-ordinate with the representatives of FBR while fixing the meetings of the special committees. FBR has further directed Chief Commissioner IR, RTO, Lahore and Collector, MCC (Preventive), Lahore for having liaison with the LCCI in this regard.
