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Salient features of the Tax Laws (Amendment) Bill, 2024:

Streamlining Tax Litigation: The bill aims to expedite the resolution of tax disputes and strengthen tax compliance across Pakistan.

Addressing Backlog: It targets the backlog of appeals pending before the Commissioner Inland Revenue (IR) Appeals and Appellate Tribunals to reduce delays and complexities in tax litigation.

Establishment of Director General Law: A 'Director General Law' will be established within the Federal Board of Revenue (FBR) to oversee and expedite the disposal of tax-related litigation.

Procedural Changes: The bill introduces procedural changes to facilitate quicker resolution of disputes, including reducing the appeal period before the High Court and limiting the jurisdiction of Commissioner Appeal.

Focus on Curbing Tax Evasion: The legislative effort is aimed at curbing tax evasion, expanding the tax base, and addressing the country's financial challenges.

Strengthening Economic Stability: By addressing long-standing issues in tax litigation and enforcement, the government aims to foster a more efficient, transparent, and robust tax system to strengthen economic stability.

Call for Compliance: All stakeholders, including taxpayers and legal practitioners, are advised to familiarize themselves with the new procedures to ensure compliance with the revamped legal framework governing tax disputes in Pakistan.

Limitations of FBR and referral to Tribunal:

Reduced Appeal Period: The bill reduces the appeal period before the High Court from ninety days to thirty days.

Jurisdiction of Commissioner Appeal: The jurisdiction of Commissioner Appeal is limited to cases where the tax value does not exceed Rs 10 million.

Direct Referral to Tribunals: For disputes involving tax assessments over Rs 10 million, appellants must now approach the Appellate Tribunals directly, bypassing the Commissioner Appeal stage.