FBR notifies committees to remove anomalies in Finance Bill, 2026
ISLAMABAD – Pakistan’s Federal Board of Revenue (FBR) has officially constituted two high-level anomaly committees to identify and eliminate technical and business-related discrepancies found within the Finance Bill, 2026.
The move, authorized by the Minister for Finance and Revenue, aims to streamline the upcoming budget legislation by incorporating feedback from key public and private sector stakeholders. The FBR stated that aggrieved parties and businesses can submit their identified anomalies on or before June 20, 2026.
The two distinct bodies—the Anomaly Committee (Technical) and the Anomaly Committee (Business)—will parallelly evaluate legislative flaws that could disrupt trade or complicate tax administration.
1. Technical Anomaly Committee
The Technical Committee is tasked with reviewing legal loopholes, drafting flaws, and procedural contradictions within the proposed tax statutes.
• Chairman: Mr. Muhammad Raza (A.F. Ferguson & Co., Karachi)
• Co-Chairpersons: * Dr. Najeeb Ahmad Memon (DG Tax Policy Office)
o Mr. Hamid Ateeq Sarwar (Member, Strategic Transformation)
o Mr. Sajjad Taslim Azam (Member, IR-Policy, FBR)
o Mr. Ashhad Jawad (Member, Customs-Policy, FBR)
The committee features an array of senior tax legal experts, including representatives from major accounting firms like KPMG and EY Ford Rhodes, alongside presidents of the Karachi and Balochistan Tax Bar Associations. Its core Terms of Reference (TOR) mandate reviewing business-related legal anomalies and directly advising the FBR on swift rectifications.
2. Business Anomaly Committee
The Business Committee focuses heavily on trade disruptions, commercial grievances, and market distortions caused by the new fiscal measures in the Finance Bill.
• Chairman: Mr. Javed Kureishi (CEO, Pakistan Business Council)
• Co-Chairpersons: (Shared with the Technical Committee, including DG TPO and senior FBR Policy Members)
This committee comprises leading trade corporate executives, including Mr. Atif Ikram Sheikh (President, FPCCI), the presidents of the Karachi, Lahore, and Sialkot Chambers of Commerce, and leadership from the Overseas Investors Chamber of Commerce and Industry (OICCI).
Terms of Reference (TORs): The Business Committee is legally bound to review all submitted industrial anomalies and formally advise the Tax Policy Office (TPO) on regulatory adjustments to safeguard trade stability.
The formation of these committees underscores Islamabad’s intent to mitigate corporate backlash and refine tax codes before the final passage of the 2026 budget into law.
