CFOs and Senior Finance Professionals are the key officers of a company to deal with lawyers in respect of Fiscal Litigation i.e. litigation against FBR, SRB etc. regarding Income Tax, Sales Tax, Custom Duty, Provincial Sales Tax on Services etc.
Fiscal litigation starts from the issue of show-cause-notices by the respective authority, then passing of orders, demand notices, thereafter appeals are preferred before different forums up to Supreme Court. At the initial level besides lawyers, other professionals are also involved i.e. Chartered Accountants, Income Tax Practitioners etc. however after Tribunal level, only advocates can represent a person before the High Courts and Supreme Court.
Besides references against the Tribunal’s orders before High Court, various Constitutional Petitions are also filed challenging the vires of various enactments or illegal action of the bureaucracy threatening fundamental rights as guaranteed under the Constitution.
Therefore, it is important for the CFOs and Senior Finance Professionals to know at what point of time, a lawyer is to be consulted or engaged as lawyers also require due time to properly prepare a matter in order to obtain the desired reliefs. It is therefore very necessary that the CFOs and Senior Finance Professionals are also familiar with the court process and what reliefs may be obtained from the court to develop and effective strategy along with the lawyer.
This workshop is the continuation of earlier series of workshops i.e. ‘Legal Issues for CFOs, Company Secretaries, Compliance Officers and Senior Finance Professionals’.
However, this workshop will specially address the issues being faced by CFOs and Senior Finance Professionals, by focusing more upon Fiscal Litigation.