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A Thousand Avenfields

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Directorate of Audit conducts audit of 16 TMO offices in Gujranwala Division

SIALKOT: The Directorate of Audit has audited Rs 9.12 billion funds and revenue during the audit of as many as 16 out of 21 TMO offices in the Gujranwala Division’s all the six districts: Narowal, Gujrat, Mandi Bahauddin, Hafizabad, Sialkot and Gujranwala. The special audit teams conducted the audit of salaries of employees, projects of repairing and reconstruction of development ... Read More »

Commercial audit of electricity overbilling soon: Khawaja Asif

ISLAMABAD: Minister for Water and Power, Khawaja Muhammad Asif informed the house that commercial audit of electricity overbilling is expected to be completed during the next few days. In a statement in the House he said top listed audit firms from private sector are carrying out the audit to determine the causes of overbilling. He said apart from possibility of ... Read More »

FBR audit through computer balloting not acceptable: Lasbela chamber

KARACHI: President of the Lasbela Chamber of Commerce and Industry Yakoob H Karim rebuffed the FBR over selection of 77,500 taxpayers for audit through computer balloting saying that it would only disturb the taxpayers. He floated the idea to FBR of widening the tax net instead of harassing the existing taxpayers. He demanded FBR to disclose the number of Karachi ... Read More »

FBR to start audit of 77,000 taxpayers in just 4 days

KARACHI: The Federal Board of Revenue (FBR) is going to start audit of 77,000 taxpayers, selected via lucky draw, in next three to four days. Sources in FBR told Customs Today that FBR has selected these taxpayers randomly via lucky draw during a meeting, presided by Finance Minister Ishaq Dar and sent these lists to field formations. These lists also ... Read More »

PCDMA asks FBR to end ‘audit discrimination’

KARACHI: Pakistan Chemicals & Dyes Merchants Association (PCDMA) has urged Federal Board of Revenue to end discrimination among commercial importers for audit through random computer balloting. PCDMA Chairman Muhammad Haroon Nisar Numberdar, addressing the 41st annual general body meeting, said that commercial importers had always been struggling for smooth production activities through supplying without interest raw materials to industries. He ... Read More »

FBR launches tax filing software ‘IRIS’

IRIS will enable taxpayers to file their tax returns from home or office ISLAMABAD: Federal Board of Revenue has launched new software ‘IRIS’ to keep records of taxpayers and to facilitate them in filing their tax returns. In the first step FBR has launched first module of the software ‘Return’ to facilitate the taxpayers, other 8 modules will be launched ... Read More »

Tax dodgers to be caught thru auditing

ISLAMABAD: Federal Board of Revenue (FBR), again this year, has decided to audit thousands of cases to catch the tax evades. Sources said that Income Tax, Sales Tax and Federal Excise Duty (FED) heads would audit about 70,000 to 80,000 cases selected through computerised balloting. “The number of cases for audit has been doubled this year as 41,727 cases were ... Read More »

Dilemma of taxpayers

According to newspaper reports, the Federal Board of Revenue (FBR) has decided to audit 15 percent of the annual income tax returns which were filed in 2013. The returns will be selected through random ballot and the exercise is meant for identifying those taxpayers who do not show their exact income in their tax returns. Earlier, at least five percent ... Read More »

Only 3 auditors to audit 2 years accounts of Karachi Customs

KARACHI: Department of Customs and Petroleum Director Audit Khalid Hussain has directed the audit of 21 collectorates and directorates of the Karachi Customs. Hussain has nominated Abid Javed Khan, Abdul Rashid Brohi and Muhammad Eisa Khan as audit officers through a letter no 231-DACP/PAC/DAC/verification/2014-14 (Vol-II) dated August 26 sent to the 21 collectorates and directorates referring to the Public Accounts ... Read More »

FBR to audit 42,000 tax payers for FY2013-14

ISLAMABAD: Audit selection of taxpayers will be held at FBR headquarters in September of this year. The selection will be made on the tax returns filed by taxpayers in year 2013. As per details, about 45 thousands taxpayers from cooperate and non-cooperate sector will be selected for audit for year 2013-14. Audit selection will be made through National tax number ... Read More »

FBR begins manual audit of selected cases

ISLAMABAD: The Federal Board of Revenue has started selecting cases for manual audit under Section 177 of the Income Tax Ordinance, 2001. According to details, taxpayers are being asked to appear before commissioners concerned with relevant documents for manual audit through Section 177 notices. Moreover, the tax department is directing taxpayers to make payments before audit completion instead of providing ... Read More »

Huge revenue loss due to non-audit of DTRE by MCC Exports

KARACHI: Federal Board of Revenue is facing huge loss due to non-audit of Duty Taxes Remission on Exports (DTRE) by Model Customs Collectorate Exports. Sources in FBR informed Customs Today that the huge revenue loss to the national exchequer worth millions of rupees is being observed due to improper audit of DTRE since 2011. They further revealed that during these ... Read More »