Post Finance Act 2022 Session on “Sector wise Corporate/ Effective Tax’’, held on July 6, 2022, for the learning and education of the members. The session was conducted by the OICCI Taxation Subcommittee Sector experts. The objective of this session was to apprise members with the specific changes/ amendments being implemented under the Finance Act 2022-2023. This was a hybrid session, attended by more than 62 representatives of member companies virtually/ in person.

M Abdul Aleem, CE/Secretary General, OICCI welcomed all participants in the beginning. He informed participants that this Special session has been held for the first time. He also highlighted the efforts being put forward in formation of the annual OICCI Taxation Proposals for the Fiscal Budget 2022-23, with active participation of the OICCI Taxation subcommittee. Subsequent to the announcement of the Federal Budget on June 10, 2022, the counter-productive members’ concerns were put together and were aggressively followed up with the relevant stakeholders. OICCI also fought on various key proposals in the Anomaly committee, and got few success under very difficult and challenging macro-economic environment.

During the session the OICCI Taxation subcommittee experts presented the highlights of the significant changes/ new levies and the overall impact of Finance Act, 2022 on Automobile, Banking, Chemicals, Oil/ Gas & Energy, Telecom and Pharmaceutical sectors.

The session was well received by all participants followed by question – answer session after each sector presentation. The participants opined that it was a very timely needed session as it helped in clarity on various new implementations made in the Finance Act 2022. The overall interaction was very candid and informative. The session ended with vote of thanks to OICCI.