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Home Business & Stock

FBR settles Rs250bn tax cases in Q2FY21

MM News Staff by MM News Staff
February 3, 2021
Reading Time: 1 min read
The protest will be held in front of the Federal Board of Revenue Headquarters (FILE)

The protest will be held in front of the Federal Board of Revenue Headquarters (FILE)

ISLAMABAD: The Federal Board of Revenue (FBR) has settled 2,174 cases involving a 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.

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.

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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.

 

Tags: FBR settles Rs 250 bn tax cases in Q2FY21MM News MM TV
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