Staff Reporter
Islamabad
Adviser to Prime Minister on Finance Abdul Hafeez Shaikh has announced on Friday the Federal Board of Revenue took two major decisions for ensuring transparency in the tax system and 10,000 audits this year.
Abdul Hafeez Shaikh, while addressing a ceremony of releasing tax directory, said that FBR wants to devise a transparent taxation system through stepping forward to an automatic system for tax payments.
“Tax payment system is being automatised from today and all related processes are being computerised as well. We do not want unnecessary audit of taxpayers. In past, many audits had been initiated that are still pending to be concluded. 14,000 audits had been conducted last year.
However, the last year’s audits were not completed. “10,000 audits will be conducted this year which is below 1 per cent as some people are removed from the process. The basis point for making these changes is making a transparent system. We will try to carry out less audit and its timely completion. On the other hand, we are also making efforts to cut down business expenditures.”
The finance adviser said that the refund process will be expedited as the government returned Rs240 billion by the end of the last year. “We have introduced a policy for creating ease to the business community and this year’s refund will be made without any pause and bribery.”
Abdul Hafeez Shaikh detailed that the tax refund worth up to Rs100,000 has been cleared from 2013 till date so far, whereas, refunds worth up to Rs10 million will be made in the upcoming phase. A total of Rs28 billion will be spent on tax refunds by the government, he added.
