ISLAMABAD: Businessmen have been told to utilise the Federal Board of Revenue’s recent offer for out-of-court settlements to amicably resolve their taxation disputes within 120 days.
The suggestion comes from SAARC Chamber of Commerce and Industry President Iftikhar Ali Malik.
Malik was speaking to a 10-member joint delegation of traders and Lahore Tax Bar Association led by Mian Faiz Bukhsh Arain on Friday.
He said the FBR chairperson had assured of treating all complications being faced by the business community as top priority.
The alternate dispute resolution committee (ADRC) has been re-mobilised and activated, which allows taxpayers to get their cases settled in lesser time and without incurring litigation expenses.
Malik said that 18 ARDC committees have started working across the country to facilitate taxpayers in resolving their disputes at their door-steps within 120 days. These committees are now empowered to stay the process of recovery in hardship cases.
“Under these new initiatives taken by the FBR through change in law vide Finance Act 2020 if an applicant taxpayer, wants to approach ADRC for settlement of his case or dispute, it is now not required to withdraw his case pending in any other appellant forum,” Malik said.