Senate Adopts Special Committee's 4 Recommendations About Money Bill

The Senate on Monday adopted four recommendations of the Special Committee related to Money Bill, the Tax Laws (Amendment), Bill, 2024

ISLAMABAD, (UrduPoint / Pakistan Point News - 29th Apr, 2024) The Senate on Monday adopted four recommendations of the Special Committee related to Money Bill, the Tax Laws (Amendment), Bill, 2024.

Convener Special Committee Farooq Hamid Naek presented the committee's report in the House.

After through discussion on the Tax Laws (Amendment) Bill, 2024, the committee unanimously recommended amendments in clause 2, in sub-clause (e), after the word “law”, the words “or a mixed question of law and fact’, shall be inserted; in clause 3, in sub-clause (e), after the word “law”, the words “or mixed question of law and fact, shall be inserted.

In Clause 4,- (a) in sub-clause (f), in section 132,- (i) in sub-section (1), for the second proviso, the following shall be substituted, namely:- “provided further that where an appeal is not decided within the aforesaid period, the Appellate Tribunal may, for reasons to be recorded in writing, condone the delay for an aggregate period of thirty days.”; in sub-section (2), in clause (b), for the word “should” the word “if” shall be substituted; and (iii) in sub-section (3), for the words “ to the aforesaid hearing schedule by the taxpayer and the commissioner” the expression “by the taxpayer and the Commissioner, to the hearing schedule as prescribed,” shall be substituted.

The committee also recommended amendments In sub-clause (g), in section 133,- (i) in sub-section (2), after the word “law”, the words “or a mixed question of law and fact”, shall be inserted;

(ii) in sub-section (3), after the word “law” the words “or a mixed question of law and fact”, shall be inserted;

(iii) in sub-section (4), for the expression “ a Special Bench, constituted”, the expression “ Special Bench or the Special Benches, as the case may be, to be constituted by the Chief Justice, as deemed necessary”, shall be substituted; and (iv) in sub-section (7), after the word “law”, the words “or a mixed question of law and fact”, shall be inserted.

Briefing the House, Minister for Law and Justice Azam Nazeer Tarar said the bill contained some amendments to tax laws. It would help streamline the legislative process related to the taxes cases pending in the tribunals, he added.

He said all the three political parties including Pakistan Muslim League-Nawaz, Pakistan Peoples Party and Pakistan Tehreek-e-Insaf had representation in the Special Committee.

He said small cases related to the tax would be decided by the Commissioner while big cases would be directly referred to Tax Tribunal.

As per the new amendment, he added, the time lines for deciding of the tax cases would be fixed and in case of more time reasons for delay would have to be recorded.

The minister said neither new tax was being imposed through the Money Bill, rather the revenue collection process was being streamlined.

The recommendations will be forwarded to the National Assembly which will decide about their incorporation into the Tax Laws (Amendment) Bill, 2024.

APP/raz-ajb