Islamabad, Sep 7: The Federal Board of Revenue (FBR) has made it mandatory for state-owned enterprises (SOEs) to resolve their tax-related disputes with the Federal Board of Revenue (FBR) through the forum of the alternate dispute resolution committees (ADRCs).
The FBR has issued an S.R.O. 1377(I)/2024 on Friday to amend Income Tax Rules, 2002.
In the case of a state-owned enterprise, this rule shall apply
to any dispute irrespective of the amount of liability of tax and the state-owned enterprise must apply to the Board for appointment of a Committee if it is aggrieved, the new rules said.
Any person or class of persons including a state-owned enterprise seeking resolution of any dispute shall submit a written application for alternate dispute resolution to the Board in the Form as set out in Part I of the Schedule to this rule.
The Board shall notify a panel comprising officers of Inland Revenue Service retired in BS-21 and above, chartered accountants, cost and management accountants, advocates, having a minimum of ten years experience in the field of taxation, and reputable businessmen, in accordance with eligibility criteria specified in Part II of the Schedule to this rule.
The member of the Committee mentioned shall provide secretariat support to the committee, FBR added.
On receipt of the Committee’s decision, the applicant shall make the payment of income tax and other taxes as decided by the Committee under this rule and all decisions and orders made or passed shall stand modified to that extent.
