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Dar, Bajwa select 77,500 returns for audit through balloting

Dar, Bajwa select 77,500 returns for audit through balloting

ISLAMABAD: Random computer ballot was conducted on Thursday at Federal Board of Revenue, Islamabad for selection of cases for audit for Tax Year 2013 and Tax Period 1st July 2012 to 30th June, 2013 in respect of Income Tax, Sales Tax and FED.

The Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Senator Muhammad Ishaq Dar was the chief guest on the occasion. Representatives of Chambers of Commerce and Industry, Tax Bars and FBR officers attended the ceremony. Minister for Finance and Chairman FBR Tariq Bajwa addressed the audience on the occasion.

In his address, Finance Minister highlighted the economic and tax policies of the government. There has been far improved revenue collection of Rs. 319 billion by FBR in the first two months of current financial year as compared to corresponding period last year when 279 billion rupees were collected. Foreign remittances have also been on the up for which overseas Pakistanis deserve commendation. The Minister also added that he had approved constitution of the Tax Reforms Commission which would put up recommendations for further boosting and improving the tax collection system.

Later on, random computer ballot was conducted in respect of six categories i.e. Corporate cases of Income Tax, Sales Tax, FED and non-corporate cases of Income Tax, Sales Tax and FED.

Senator Ishaq Dar initiated the ballot process by pressing the computer button. Representatives of various Chambers and Tax Bars also participated in the ballot process. Around 77,500 returns were selected for audit in respect of six categories. National Tax Numbers of cases selected for audit are displayed on website of FBR. Category wise break-up is as under:-

Type Total Cases Selected
Income Tax (Corporate)               25,046                    1,876
Income Tax (Non-Corporate)            840,675                  63,050
Sales Tax (Corporate)               11,757                    1,410
Sales Tax (Non-Corporate)               92,455                  11,095
FED (Corporate)                     402                          45
FED (Non-Corporate)                     202                          24