ISLAMABAD: The Federal Board of Revenue (FBR) has decided to conduct special audit of regular tax evaders.
According to details, board will conduct the special audit of people, firms and companies whose expenses exceeded their income and who have properties abroad.
Sources added that the FBR has proposed amendments in the income tax ordinance, and with the proposed amendments, every Inland Revenue (IR) commissioner will get the power to conduct audit and form a special audit panel for this purpose.
Sources said that the FBR has proposed amendments and asked for suggestions and objections from the stockholders within seven days.
Sources added that under the proposed amendments, the special audit panel will consist of IR officer, a chartered accountant firm’s representative, cost and management firm’s representative and one other member who will be selected by the IR commissioner. The special audit panel will be authorised to conduct audit of any person, institutions and companies.
