ISLAMABAD: The Chairman of the Federal Board of Revenue (FBR), Syed Shabbar Zaidi, announced on Thursday to initiate a panel audit of the sugar industry. “FBR has decided to initiate a panel audit of the sugar industry in order to improve tax compliance and ensure transparency in reporting mechanism," the FBR chief said in a tweet.
The chairman further said, “FBR believes in improving compliance through education, facilitation, transparent and fair application of law".
Zaidi further said that the timelines with reference to ‘reorganisation’ as given in October 3, 2019 letter shall be put on hold. “Meanwhile we at FBR shall strive to collect optimum revenue," he added.
The prime minister’s letter of October 3 contains following major reforms in FBR and timelines: Establishment of Pakistan Revenue Authority (timeline June 30, 2020); Re-organisation and re-articulation of FBR Headquarters (Nov 30, 2019); administrative and functional restructuring of LTUs/RTOs (December 31, 2019); collection of sales tax on services by the FBR (October 30, 2019); enhancement of collection charges of FBR for infrastructure development, automation and HRD (timeline June 30, 2020); nationwide tax assessment and documentation drive (timeline Nov 30), nation-wide survey of immovable properties (October 31), proposal for development of Alternate Border Economy (timeline October 31, 2019) and process for automation of the FBR (timeline November 30, 2019).
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