NA Standing Committee On Finance Meets

National Assembly Standing Committee on Finance and Revenue met on Friday under the chairmanship of Syed Naveed Qamar and deliberated on Tax Laws (Amendment) Ordinance

ISLAMABAD, (UrduPoint / Pakistan Point News - 9th May, 2025) National Assembly Standing Committee on Finance and Revenue met on Friday under the chairmanship of Syed Naveed Qamar and deliberated on Tax Laws (Amendment) Ordinance.

Chairman of the Federal board of Revenue (FBR) briefed the committee on Tax Laws (Amendment) Ordinance, 2015 (IV of 2025), said a press release.

The Committee deliberated on the urgency and rationale behind the ordinance while expressing concerns over its potential impact on various sectors across the country.

The members of the committee emphasized that amendments to the law must be carefully evaluated to avoid unintended consequences on other categories.

The Chairman Committee underscored the importance of incorporating expert input from the Ministry of Law and Justice to refine the proposed legislation for optimal outcomes.

Additionally, committee members sought further clarification regarding the designation of officers under the "Insertion of New Section 175C" to ensure precise implementation.

The representative from the Ministry of Law and Justice informed the committee that the Ordinance would be presented as a Bill in the current National Assembly Session, which would subsequently be referred to the committee for consideration and report.

The Chairman Committee affirmed that the Committee would thoroughly examine the Bill and propose necessary amendments, if required.

During the discussion, the committee raised serious concerns over the eroding public confidence in the FBR and stressed that any legislative measures pertaining to the FBR must prioritize restoring public trust.

The committee members also recommended enhancing the capacity of FBR officials in tax collection procedures to improve efficiency and facilitate taxpayers, thereby contributing to greater revenue generation.

The Chairman FBR provided insights into Section 138 of the Ordinance, which aims to streamline immediate tax recovery upon the expiry of the notice period under Section 137(2) or following a decision by the High Court.

This provision is expected to expedite revenue collection. Furthermore, the committee reviewed Section 140, which seeks to minimize delays and enhance efficiency in tax recovery post-judicial decisions.

The meeting was attended by the Members of National Assembly (MNAs) Hina Rabbani Khar (via zoom), Dr. Mirza Ikhtiar Baig, Dr Nafisa Shah, Sharmila Sahiba Faruqui Hashaam, Muhammad Mobeen Arif, Usama Ahmed Mela and Shahida Begum.

Senior officers from Ministry of Law and Justice, Finance Division, Revenue Division and Federal Board of Revenues were also present in the meeting.