Panel unanimously recommends Tax Laws (Amendment) Bill 2019 to NA
ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Economic Affairs has unanimously recommended the Tax Laws (Amendment) Bill 2019 to the National Assembly (NA) and said bill does not fall within the purview of Article 73 (2) of the Constitution.
After due deliberation, the committee decided that the exemption is not a remission, therefore, the said bill does not fall within the purview of money bill and therefore it unanimously recommended to the NA that the Tax Laws (Amendment) Bill 2019, does not fall within the purview of Article 73 (2) of the Constitution, and may be withdrawn by the government and the same be brought under Article 70 of the Constitution of Pakistan 1973.
The committee meeting chaired by Senator Farooq Hamid Naek, was attended by senators Mian Muhammad Ateeq Shaikh, Anwar ul Haq Kakar, Imam-ud-Din Shouqeen, Muhammad Akram and officers of the Ministry of Finance, Revenue and Economic Affairs and the Ministry of Law and Justice.
The committee in its meeting held here in the Parliament House, discussed in detail the bill titled “The Tax Laws, 2019, laid before the Senate under Article 73 of the Constitution and referred to the committee on March 4.
At the outset, the committee chairman inquired whether the said bill deemed to be money bill as provided in Article 73 (2) of the Constitution of Pakistan, 1973 or otherwise.
While in committee meeting member (customs), FBR responded that the said bill contained the remission of taxes, therefore, it is a money bill as provided in Article 73 (2) (a) of the Constitution of Pakistan, 1973 which deals with the imposition, abolition, remission, alteration or regulation of any tax.
He further informed that the customs act has already given concession to the equipment, materials, plant machinery imported by the concession holder, its operating companies and contractors and sub-contractors for forty years. However, now the words Gwadar International Terminal and Gwadar Marines Services Limited, their contractors and sub-contractors have been included. - APP