ISLAMABAD – National Assembly committee on Finance and Revenue on Thursday has expressed concerns over the method of execution of the Benami Act by the Federal Board of Revenue (FBR) at ground level.
National Assembly Committee on Finance and Revenue meetings were held under the chairmanship of Faiz Ullah, MNA. Chairman FBR briefed the Committee about the action taken by the FBR on the implementation of the Benami Act. He said that 500 cases were identified out of which fifty-five (55) references are launched. The Committee members expressed their concerns over the method of execution of the Benami Act by the Federal Board of Revenue at ground level. The Committee noted that the Anti concealment Act’s rules and regulations got to be reviewed for its effective implementation.
Chairman, FBR assured the Committee that FBR always puts taxpayer facilitation as its topmost priority. The robust control mechanism is in situ to make sure transparency. The policy of non-interactive system-based disposal of business is followed i.e. all quiet notices are issued electronically bearing Universal Product Code, therefore, all possible measures are put in situ to arrest the incidence of harassment. The Committee unanimously directed that FBR should launch an awareness campaign for the general public about the principles of AML and Benami Act.
The Committee has also discussed the difficulty regarding the missing of non-duty paid auctioned vehicles. Member, Customs informed the Committee that the subject item has been published, distorting the facts without seeking any input/feedback from the concerned department. He explained the facts and background of the matter. After a detailed discussion, the Committee recommended that each provincial secretary of excise and taxation departments could also be called within the next meeting of the Committee.
The Committee discussed the matter concerning the levy of Regulatory Duty (RD) on stationery items (Led Pencil). The Member, Customs said that the Pencil falling under PCT heading 6909.1000 attracted CD @ 20per cent, ST @ 17per cent, ACD 7per cent, WHT 5.5per cent during the budget exercise of 2021-22, various proposals from pencil local manufacturers were received for the imposition of RDS on the pencils so as to market import substation and protection of local industry. The manufacturers requested to impose Regularity Duty (RD) @ 10per cents on imports of pencils, pens and other stationery items to save lots of domestic industry, consistent with them stationary sectors were providing employment to figure 20,000 skilled workers using precision advance engineering equipment and there are 5 manufacturing units in Pakistan, out of which 2 are closed, one unit is working partially and a couple of units are operational. However, during a subsequent meeting of the Tariff Policy Board, the speed of RD was enhanced from 10per cent to 20per cent.
The Committee noted that a levy of RD on any item should be considered in light of the wants of the local level. The Committee recommended that local manufacturers could also be invited within the next meeting for final directions to the FBR therein regard.
The Committee discussed the safety Exchange Commission of Pakistan (Amendment) Bill, 2020, clause by clause, however, couldn’t complete its reading, thanks to in need of time, and decided that further discussion are going to be administered in tomorrow meeting.
The meeting was attended by Dr Aisha Ghous Pasha, Faheem Khan, Ali Pervaiz, Jamil Ahmed Khan, Dr. Nafisa Shah, Amjad Ali Khan, and Makhdoom Syed Sami ul Hassan Gilani, MNAs and Minister for Finance and Revenue besides the senior officers from M/o Finance and Revenue, and Federal Board of Revenue.
