ISLAMABAD: Federal Board of Revenue (FBR) Chairman Malik Amjed Zubair Tiwana formed two anomaly committees in order to identify and remove the business and technical related anomalies in the Finance Bill 2024.
The Anomaly Committee on Business will be chaired by President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Akram Shaikh and All Pakistan Textile Mills Association (APTMA) Gohar Ijaz, while its co-chairpersons will be Member Customs (Policy) Ashhad Jawad and Member IR Policy Amna Faiz Bhatty, said a news release.
Similarly, the Anomaly Committee on Technical will be chaired by Managing Partner of KPMG Adnan Rizvi, while Member Customs (Policy) Ashhad Jawad and Member IR Policy Amna Faiz Bhatty will be its co-chairpersons.
Other members of the committees include prominent businessmen from various chambers of commerce and trade bodies.
Both the committees, consituted by FBR, will submit their recommendations by June 20, 2024.
Earlier on June 12, Finance Minister Muhammad Aurangzeb presented federal budget with a total outlay of Rs18.9 trillion.
Pakistan’s budget for the upcoming year aims for a modest 3.6 per cent GDP growth, and sets an ambitious Rs13tr tax collection target, raising taxes on salaried classes and removing tax exemptions for the rest.
Aurangzeb, during the budget presentation, said that the goal was to widen the tax base to avoid burdening existing tax payers.
This year’s budget, like last year’s, is widely considered to be crafted to align with the International Monetary Fund’s (IMF) requirements to secure another bailout, this time “larger and longer”.
