ahlam1399
09-06-2016, 06:00 AM
ISLAMABAD: In the aftermath of FBR’s disowning its earlier official communication on Punjab’s accepted claims of Rs6.4 billion, the Center and Punjab authorities are **w negotiating for finalising mutually agreed new parameters for resolving controversy over input adjustment claims between the two sides, The News has learnt.
The FBR has **w disowned its official communication made by one of its ******rs in the past in which they conceded that Punjab’s claim on input adjustment was hovering around Rs6.4 billion.
“**w we have disowned this confirmation and invited the Punjab’s tax authorities to resolve this matter on pattern of Sindh formula,” one top official of FBR told The News in background interview here on Monday.
**w the matching of claims would be done by the joint committee of FBR and Punjab’s tax officials and then reconciled figures would be carved out on the basis of mutually agreed parameters. “We hope that both the sides would be able to resolve this issue till September 30, 2016,” said the sources.
The FBR and Punjab Revenue Authority (PRA) were encouraged as the FBR and Sindh tax authorities managed to strike consensus in this respect, pinning hopes that **w Center and Punjab could also evolve consensus on the same pattern till end of the ongoing month.
The Federal Board of Revenue (FBR) and Sindh Revenue Board (SRB) had recently struck an agreement and signed revised Memorandum of Understanding (MoU) for successfully resolving controversy over input adjustment claims under which SRB would get payment of Rs2.5 to 3 billion in shape of input adjustments against the FBR instead of its earlier claims of Rs22 billion.
After striking agreement between the FBR and SRB, both the sides have signed revised MoU during end of last month after which the Federal Cabinet approved the draft ordinance which was already promulgated by President Mam**on Hussain.
In case of Punjab on input adjustments claims, the Punjab tax authorities argued before the FBR that they did receive an official communication from the FBR a couple of years back in which it was validated that the provincial government possessed claims of Rs6.4 billion. So they took stance that first the FBR made payments then they would move ahead for negotiating deal on this front.
In order to follow the same pattern, the FBR has **w taken the stance that they decided to withdraw the last official communication on this front so both the sides should sit together to finalise parameters on the basis of which the cross adjustments could be mutually agreed as the same methodology was applied in case of FBR-SRB controversy and finally succeeded in striking an agreement in this regard.
“**w both sides have agreed to sit together and find out solution till September 30, 2016,” said the official and added that the new parameters would be finalised under which both sides would verify each other claims to reach a consensus on previous claims and then it would become basis of future adjustments in months and years ahead.
http://feeds.feedburner.com/~r/com/YEor/~4/WuqIaT1Mj6g
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The FBR has **w disowned its official communication made by one of its ******rs in the past in which they conceded that Punjab’s claim on input adjustment was hovering around Rs6.4 billion.
“**w we have disowned this confirmation and invited the Punjab’s tax authorities to resolve this matter on pattern of Sindh formula,” one top official of FBR told The News in background interview here on Monday.
**w the matching of claims would be done by the joint committee of FBR and Punjab’s tax officials and then reconciled figures would be carved out on the basis of mutually agreed parameters. “We hope that both the sides would be able to resolve this issue till September 30, 2016,” said the sources.
The FBR and Punjab Revenue Authority (PRA) were encouraged as the FBR and Sindh tax authorities managed to strike consensus in this respect, pinning hopes that **w Center and Punjab could also evolve consensus on the same pattern till end of the ongoing month.
The Federal Board of Revenue (FBR) and Sindh Revenue Board (SRB) had recently struck an agreement and signed revised Memorandum of Understanding (MoU) for successfully resolving controversy over input adjustment claims under which SRB would get payment of Rs2.5 to 3 billion in shape of input adjustments against the FBR instead of its earlier claims of Rs22 billion.
After striking agreement between the FBR and SRB, both the sides have signed revised MoU during end of last month after which the Federal Cabinet approved the draft ordinance which was already promulgated by President Mam**on Hussain.
In case of Punjab on input adjustments claims, the Punjab tax authorities argued before the FBR that they did receive an official communication from the FBR a couple of years back in which it was validated that the provincial government possessed claims of Rs6.4 billion. So they took stance that first the FBR made payments then they would move ahead for negotiating deal on this front.
In order to follow the same pattern, the FBR has **w taken the stance that they decided to withdraw the last official communication on this front so both the sides should sit together to finalise parameters on the basis of which the cross adjustments could be mutually agreed as the same methodology was applied in case of FBR-SRB controversy and finally succeeded in striking an agreement in this regard.
“**w both sides have agreed to sit together and find out solution till September 30, 2016,” said the official and added that the new parameters would be finalised under which both sides would verify each other claims to reach a consensus on previous claims and then it would become basis of future adjustments in months and years ahead.
http://feeds.feedburner.com/~r/com/YEor/~4/WuqIaT1Mj6g
أكثر... (http://feedproxy.google.com/~r/com/YEor/~3/WuqIaT1Mj6g/148202-FBR-Punjab-likely-to-strike-deal-on-input-adjustment-claims)