Rs250bn tax cases settled in Q2FY21

The Federal Board of Revenue (FBR) has disposed of 2,174 cases involving tax amount of over Rs250 billion in the second quarter of the current fiscal year (Q2FY21).

According to data released by the FBR, 934 tax cases have been disposed of by high courts and the SC with the revenue involved amounting to Rs81.7bn in the last quarter (2QFY21), while 1,240 cases with the revenue involving Rs168.5bn were decided by the Appellate Tribunal Inland Revenue during the same period.

The move will help the government achieve the annual tax collection target as litigation cases run into billions.

On FBR’s request, special benches for the hearing of tax cases have been constituted by Sindh, Lahore and Islamabad high courts for early hearings and speedy disposal of tax-related cases. In addition to that, a new policy has been introduced for the induction of competent lawyers so that government revenue is not left at the stake of amateur lawyers.

The FBR has also launched the simplified process at the first appeal i.e. commissioners appeals level by implementing the e-filing of appeals since Jan 1, 2021.

So far, on application by the taxpayers, 18 committees have started working for the resolution of cases, while it has also directed for taxpayers’ application to be finalised within a period of 120 days.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

Must Read

HUM Network awarded broadcasting rights for ICC cricket events in Pakistan...

Major events during contract period include Men’s and Women’s ICC T20 World Cup 2024, Men’s Champions Trophy 2025, and ICC Women’s Cricket World Cup 2025