FBR Approves Audit Policy 2019

August 28, 2020Zayn0

The FBR has approved the Audit Policy 2019. Cases will be selected by lottery but in the years 2018 and 2019, those who show assets under the amnesty scheme will be exempted from the audit.

According to details, the Federal Board of Revenue has approved the audit policy for the year 2018. The audit policy will apply to persons registered under the Income Tax, Sales Tax, and Federal Excise Act. Cases for all tax year 2018 will be selected on a scientific basis through computerized lottery.

Software called Risk Based Audit Management System is designed for case selection. According to the FBR, in addition to the use of the amnesty of the year 2118 and 19, such cases will also be exempted from the audit, which is being investigated by the Intelligence and Investigation Wing.

Meanwhile, Lahore Tax Bar Association President Khurram Shahbaz Butt and General Secretary have written a letter to the Chairman FBR on the delay tactics and unusual delays in payment of refunds. Lahore Tax Bar Association has demanded transparent and non-discriminatory payment of refunds.

The letter from the tax bar states that tax offices are discriminating against taxpayers by delaying refunds. Taxpayers are going through financial difficulties due to the Coronavirus pandemic. Problems should be solved by paying refunds.

Extracted from City42 News

Zayn

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