Saarc Chamber of Commerce and Industry Chairman Iftikhar Ali Malik has asked businessmen to take benefit of an out-of-court settlement offer from the Federal Board of Revenue (FBR) for amicable resolution of their tax disputes without any hassle within a timeframe of 120 days.

Talking to a 10-member joint delegation of traders and the Lahore Tax Bar Association on Friday, he said that the FBR chairman had assured him that all complications and issues being faced by the business community would be addressed on top priority.

He said that for the benefit of taxpayers, the Alternative Dispute Resolution Committee (ADRC) had been re-mobilised and activated and the taxpayers were fully encouraged to get their cases settled through such committees in a much lesser time and without making litigation expenses.

Malik said that the FBR chairman had explained that 18 ADRCs had started working across the country to facilitate the taxpayers in resolving their disputes at their doorsteps within 120 days.

He said that under the new initiatives taken by the FBR, through the change in law vide Finance Act 2020, “if an applicant taxpayer wants to approach ADRC for settlement of his case or dispute, he is now not required to withdraw his case pending in any other appellant forum”.

He said that the entire taxation network had been streamlined mainly aimed at facilitating the taxpayers exclusively.