FBR Highlights Composite Audit Option to World Bank Review Mission

The Federal Board of Revenue (FBR) will highlight issues, particularly third-party composite audit, during the meeting with the World Bank (WB) review mission, which is scheduled to reach Pakistan on September 15, 2010. The core agenda of the WB review mission would be FBR reform. They said that the mission would be briefed about the progress of the cases selected for audit through random balloting.

Following reluctance of the top guns of FBR to continue third-party composite audit in coming years, the board seeks approval from WB to empower the commissioners to prioritize cases out of selected units for audit purposes, sources said, adding that the field offices would be empowered to exercise their discretionary powers to pick more potential cases for audit purposes. Moreover, they said, the tax offices were asked to compile the data of non-filer as the board has planned to give detailed presentation in this regard.

The mission would meet with members of FBR including tax policy, sales tax, customs, direct tax, information, admin, legal, human resources, CEO, PRAL, Director General (DG) of Directorate of Intelligence and Investigation, DGs of Large Taxpayers Units (LTU) and Regional Tax Offices (RTOs) and others during 16-day official tour. They said that the WB review mission would also submit recommendations and suggestions to the finance minister on the farewell day of tour to help FBR for improving its performance.


Post a Comment