ISLAMABAD: Rawalpindi Islamabad Tax Bar Association (RITBA) on Thursday said an efficient tax dispute resolution mechanism can resolve conflicts in a proper manner and help restore taxpayers’ confidence.
The government can cover the current revenue shortfall without putting heavy burden on the underprivileged, it said.
FBR is facing a revenue shortfall of Rs3.5 trillion which can be bridged through activating Alternative Dispute Resolution Committees (ADRC) of the FBR, said Syed Tauqeer Bukhari, President of RITBA. These committees are empowered to settle disputes as over Rs1200 billion of revenue is stuck in litigation at different forums since long, he added.
He said that if half of the cases were decided in favour of the government, it will generate over Rs600 billion of revenue. The government will be able to use extra money generated through dispute resolution to improve the social sector, he added.
The tax expert said that there is no need to impose new taxes or revise the tax rate as FBR is collecting half of the taxes as compared to the potential.
De-politicising the institution will automatically boost revenue which will provide breathing space to the government and reduce dependence on borrowing.
He said that RITBA will cooperate with the new Chairman FBR Syed Shabbar Zaidi and give him recommendations to improve collection.
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