Islamabad, June 15, 2024 – The Federal Board of Revenue (FBR) announced the formation of two high-powered committees on Saturday, tasked with identifying and resolving anomalies in the Finance Bill 2024.
Acting on the directives of the FBR chairman, the committees will focus on business and technical anomalies.
The business anomaly committee will be co-chaired by Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and Gohar Ijaz, Patron of the All Pakistan Textile Mills Association (APTMA). The co-chairpersons from the FBR will be Ashhad Jawwad, Member (Customs-Policy), and Amna Faiz Bhatty, Member (IR-Policy).
The members of the business anomaly committee include:
• Kashif Anwar, President, Lahore Chamber of Commerce and Industry
• Iftikhar Ahmed Sheikh, President, Karachi Chamber of Commerce and Industry
• Muhammad Fuad Ishaq, President, Sarhad Chamber, Peshawar
• Haji Abdullah Achakzai, President, Quetta Chamber
• Ahsan Zafar Bakhtawari, President, Islamabad Chamber
• Khurram Tariq, President, Faisalabad Chamber
• Khurram Mukhtar, Patron, PTEA, Faisalabad
• Shabbir Dewan, Chairman, Pakistan Business Council
• Shahzeb Akram, ex-Senior Vice President of FPCCI
The business anomaly committee has been tasked with reviewing business-related anomalies in the Finance Bill 2024 and providing recommendations to the FBR for their removal. The committee may co-opt additional members by consensus if required. Anomalies can be submitted to the co-chairpersons by the close of office hours on June 20, 2024.
Simultaneously, the technical anomaly committee will be chaired by Adnan Rizvi, Managing Partner of KPMG. The co-chairpersons for the technical anomaly committee will be the same as those for the business anomaly committee: Ashhad Jawwad and Amna Faiz Bhatty.
The members of the technical anomaly committee are:
• Asif Haroon, A. F. Ferguson & Co. Karachi
• Anwar Kashif Mumtaz, President, All Pakistan Tax Bar Association
• Faraz Anwar, A. F. Ferguson & Co.
• Syed Hamid Ali Shah, Additional Secretary Commerce Division
• Shahzad Ahmed Malik, President, Institute of Cost and Management Accountants of Pakistan (ICMAP)
• Habib Fakharuddin, CA, Rawalpindi
• Abdul Qadir Memon, former Patron-in-Chief and President of Pakistan Tax Bar Association (PTBA)
• Kamal Hussain Siddiqui, Balochistan Tax Bar, Quetta
• Saifullah, Partner, Rafaqat Babar & Co., Peshawar
The technical anomaly committee will follow the same terms of reference as the business anomaly committee, focusing on identifying and resolving technical issues in the Finance Bill 2024.
By constituting these committees, the FBR aims to streamline the implementation of the Finance Bill 2024 and ensure that any discrepancies are addressed promptly, thereby fostering a more efficient and transparent fiscal environment.