ISLAMABAD: The Federal Board of Revenue (FBR) has almost completed its working on making a new audit policy draft which will be presented before the board council of FBR soon.
Official sources told Customs Today that the FBR would audit the record of the past five years pertaining to the large taxpayers, three years record of medium level taxpayers and the two years record of small taxpayers to trace the defaulters if any.
In this new audit policy, FBR would select 20 percent cases of large taxpayers, 10 percent cases from the list of medium level taxpayers and 5 percent cases of small taxpayers, they added.
The audit process will be completed in one year and the departments concerned report over it to the high ups.
