Tag Archives: audit

FBR rejects relief to non-filers in automation selection of audit

KARACHI: Federal Board of Revenue (FBR) has rejected to give any relief to non-filers of income tax returns for tax year 2017 regarding automatic selection of audit.

Non-filers can avoid automatic selection of audit by paying 25pc higher tax than preceding year

ISLAMABAD: The taxpayers, who have failed to file income tax returns by December 15, 2017, can avoid automatic selection for audit by paying 25 percent higher tax as compared to paid in preceding year, within 90 days of expiry of last date.

Corporate RTO Karachi assigns audit jurisdictions

KARACHI: Corporate Regional Tax Office (CRTO) Karachi has assigned jurisdictions for early disposal of audit cases and ensured recovery of revenue.

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

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

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

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.

Commissioners IR authorized to conduct audit of exemption misuse

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

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.