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FBR decides to initiate panel audit of sugar industry

FBR decides to initiate panel audit of sugar industry

ISLAMABAD: Federal Board of Revenue (FBR) initiate panel audit of sugar industry to improve Tax Compliance and Ensure Transparency in reporting mechanism, said Shabbar Zaidi.

Timelines with reference to the ‘re-organization’ of FBR as given in October 3, 2019 letter of the reforms approved by PM shall be put on hold.

The Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi announced on Thursday to initiate a panel audit of the sugar industry.

“FBR has decided to initiate a panel audit of the Sugar industry in order to improve Tax Compliance and Ensure Transparency in reporting mechanism,” the FBR chief said in a tweet.

The chairman further said, “ FBR believes in improving compliance through education, facilitation, transparent and fair application of Law”.

FBR believes in improving compliance through education, facilitation, transparent and fair application of Law.

Zaidi further said that the timelines with reference to ‘reorganisation’ as given in October 3, 2019 letter shall be put on hold. “Meanwhile we at FBR shall strive to collect optimum revenue,” he added.