FBR (Federal Board of Revenue (FBR) issue special audit of industrial units)

November 28, 2015 Off By Web Desk

SIALKOT: Federal Board of Revenue (FBR) has issued orders of special audit of as many as 5535 industrial units in both Sialkot and Gujranwala regions. Out of these industrial units 165 units belonged to Corporate Class and 5370 belonged to the non-corporate class.

According to the senior FBR officials, the tax returns submitted before FBR by the exporters, importers and industrialists of these industrial units would be re-scrutinized by the FBR to detect any concealing of the facts by them while submitting their tax returns to FBR.

The FBR officials added that the FBR has selected as many as 60500 industrial units across the country including 2610 industrial units in Sialkot region (comprising Sialkot, Narowal and Gujrat districts) 2925 industrial units in Gujranwala region (comprising Gujranwala, Mandi Bahaud Din and Hafizabad districts) for their special audit through a special computerized draw recently held at the FBR (Headquarters) in Islamabad.

FBR has also established as many as 11 special auditing teams for Sialkot region and 13 such teams for Gujranwala region, as every team has been given 350 cases for special audit of the above mentioned industrial units.

These teams have started the process of special audit by checking every voucher and bill of these selected industrial units in a bid to detect any tax evasion and any non-declaration of their assets while submitting tax returns by these industrial units, in this regard.

Meanwhile, the owners of the above-mentioned industrial units have expressed grave concern over the special audit of their industrial units by the FBR…