Tag Archives: audit

FBR imposes fine, penalties for non-compliance on audit notices

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KARACHI: Federal Board of Revenue (FBR) is imposing fine and penalties on taxpayers who are not replying to notices issued for production of documents and records.

FBR’s enforcement action justified, business community asked to maintain account

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KARACHI: Haroon Akhtar Khan, Special Assistant to Prime Minister on Revenue (SAPM) on Friday asked the business community to maintain their accounts instead criticizing Federal Board of Revenue (FBR) for taking strict measures against tax defaulters.

FBR halts audit proceedings for 30 days

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KARACHI: Federal Board of Revenue (FBR) has halted the audit proceedings against non-compliant taxpayers for 30 days in a bid to give time for filing their returns and declare income and assets.

FBR notifies transfer, postings of auditors

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ISLAMABAD: Federal Board of Revenue (FBR) has notified transfer and postings of senior auditors of Inland Revenue in order to fill the human resource requirement for meeting enhancing audit activities.

Commissioners IR authorized to conduct audit of exemption misuse

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KARACHI: Commissioners of Inland Revenue has been empowered to conduct audit of manufacturers availing exemption on import of raw material and recover unpaid tax.

Tax Proposals 2016/2017: audit immunity sought for commercial importers

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KARACHI: The Federal Board of Revenue (FBR) has been urged to restore immunity from audit for commercial importers as unilateral withdrawal of such relaxation was against the agreement of trade community.

FBR urged to declare cases invalid selected for audit by commissioners

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KARACHI: The Federal Board of Revenue (FBR) has been asked to declare invalid the selection of audit by commissioner Inland Revenue and carry out selection of audit through random balloting.

Computerized audit selection contrary to FBR authority: FTO

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KARACHI: Federal Tax Ombudsman (FTO) has observed that audit selection through computerized random balloting is contrary to authority of Federal Board of Revenue (FBR).

FBR criticizes Iris for undermining audit, recovery efforts

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KARACHI: The Federal Board of Revenue (FBR) has criticized its own return filing software – Iris, for undermining the efforts of field formation in audit and recovery matters.

Many officers using audit notices for their ulterior motives

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KARACHI: The Federal Board of Revenue (FBR) has been informed that many officers of Inland Revenue are using audit notices for their ulterior motives.