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Complete audit by Feb ’14: FBR directs tax auditors

Complete audit by Feb ’14: FBR directs tax auditors

KARACHI: Federal Board of Revenue has directed tax auditors to complete the audit by February 2014, the officials said.

The tax auditors have been directed to complete the audit by the prescribed timeline and warned that no slackness and inefficiency would be tolerated, they added.

In addition to this, FBR has directed tax auditors to get bank statements of the taxpayers selected for audit in a random computer ballot for previous tax year, official sources said. The commissioners of Inland Revenue have been made responsible for wrong and illegal orders in the audit cases.

At the same time, the auditors have been advised that in those cases where further time is required and recoveries are involved, the tax officials should continue with the permission of commissioners, officials said.

These instructions have been issued to make auditing more meaningful and detection of tax evasion more effective, they said.