Smuggling, underinvoicing and refunds: FBR sets up two committees to resolve LCCI problems

The Federal Board of Revenue has constituted two high-level committees for taking appropriate measures to control smuggling, underinvoicing and issuing sales tax refunds besides resolving the issues facing the steel industry. It is learnt on Tuesday that the FBR has issued a letter to the Lahore Chamber of Commerce and Industry (LCCI) for constitution of special committees to resolve problems of the business community.
In this regard the FBR has nominated senior officials for the special committees. According to the FBR, the special committee to look into steel industry issues would comprise Muhammad Ashraf Khan, Member (IR-Operations), Federal Board of Revenue, Islamabad and Shafqat Mahmood, Chief Commissioner Inland Revenue, Regional Tax Office, Lahore.
Sources said that the committee would check payment of sales tax by steel sector under Sales Tax Special Procedure and normal tax payment procedure. The committee would further investigate as to how many units are operating under the Sales Tax Special Procedure and their actual contribution in the form of sales tax whereas, how many units are making sales tax payment under normal tax payment procedure.
The committee on smuggling, underinvoicing and refunds would comprise Nisar Muhammad, Member (Customs), Federal Board of Revenue, Islamabad and Junaid Akram, Collector, Model Collectorate of Customs (Preventive), Lahore. The FBR has asked the LCCI to co-ordinate with the representatives of FBR while fixing the meetings of the special committees. The FBR has further directed Chief Commissioner Inland Revenue, Regional Tax Office, Lahore and Collector, Model Collectorate of Customs (Preventive) Lahore for having liaison with the LCCI in this regard.