The Karachi Large Taxpayers Unit (LTU) is likely to collect over Rs 10 billion over past several years' arrears within stipulated period of 75 days through Tax Arrears Settlement Incentive Scheme (Tasis) 2008.
LTU Director-General Bashir Ahmad told Business Recorder on Wednesday that the Federal Board of Revenue (FBR) has announced the Tasis under section 146B of Income Tax Ordinance, 2001 to clear outstanding income tax and withholding income tax levies without any additional surcharge.
He said:, "Only those taxpayers against whom direct tax arrears including additional tax and penalty for non-payment are outstanding are eligible to get benefit through this scheme."
He said that the withholding agents, like telecommunication companies, etc, which are statutory tax collecting agents, did not deposit it into the government treasury or failed to withhold the tax including additional tax and penalty, are allowed to be facilitated through Tasis, and added that taxpayers would be entertained through the scheme from July 1, 2008 to September 30, 2008.
He said the taxpayers who have disputed the tax demand before the appellate authorities can also avail the opportunity to get tax clearance certificate from concerned authority.
He said that the taxpayers would deposit the principal amount of arrears within seven days of the communication from the Commissioner and if the payment is settled to be paid in instalments, the additional tax at the rate of 5 percent per annum of the unpaid amount of arrears should also be paid with principal amount in stipulated period.
About the procedure to resolve taxpayer's pending tax related issues, he said that the taxpayers would submit a statement of outstanding arrears along with penalty for non-payment besides amount of statutory additional tax, or the arrears in litigation before the authority in the prescribed manner and offer settlement of arrears under the provisions of the scheme.
The concerned official will issue a certified copy of the arrears statement within seven days for confirming the total amount of arrears and if the amount of arrears is the same as stated by the taxpayer then the offer for the proposed settlement would be accepted.
However, if the amount of arrears mentioned by taxpayer in his statement is different from the official ledger, the correct amount of arrears for proposed settlement would be communicated to the taxpayer within seven days of the receipt of the statement, he maintained.
He said that the concerned authority would issue a certificate to the taxpayer to confirm the payment of arrears and waiver of the additional tax and penalty owing to the arrears.
He said that the taxpayers would also be entitled to a relief of 10 percent of the amount disputed in appeal besides waiver of additional tax and penalty, if any. He said that the intimation letters in this regard have been issued to chambers, bars associations and taxpayers as well to make this scheme successful.
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