ISLAMABAD: The Federal Board of Revenue (FBR) has initiated a countrywide exercise for conducting audit of urea/ fertilizers dealers to ensure that they pay the correct amount of income tax on their earnings.
In this regards, notices have been issued for audit to a total number of 437 cases, said a FBR statement issued here on Monday.
The proceedings are on hands and shall shortly be finalized. Besides above, notices to all non-filers have also been issued by the concerned Inland Revenue Field Formations.
Earlier, the Senate Standing Committee on Finance has raised serious concerns about the proposed tax measures in the budget for the next fiscal year, warning that they will fuel inflation in the country and increase malnutrition.
The committees recommendations to finance ministry and FBR will include withdrawal of 18pc GST on child nutrition products, according to news reports in the media.
