In the latest move, FBR decides Industries Field Audit all over Pakistan. For this purpose, the plan set by the Federal Board of Revenue is to appoint 102 sector experts. These experts will be appointed in almost 42 sectors or industries. These experts in their field will conduct the field audit of major industries of Pakistan. The plan is to enhance the tax limit and to control the tax evasion.
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Industric Selected by FBR for Field Audit
The authorities of FBR have decided to upgrade the functions of FBR to digitalize the department. There are many other steps that are already taken by FBR. These steps are the prerequisites to digitalize the FBR, and Field Audit is one of them.
The FBR experts have prepared a list of 42 departments for field audit. Detail is given below:
- Textile sector.’
- Rice Mills.
- Banking sector.
- Departmental Stores.
- Electronic Manufacturer.
- Beverages industry.
- Automibile sector.
- Education Sector.
- Plastic Industry.
- chip board & packages manufacturer.
- Poultry Sector.
- Mobile manufacturer.
- Copper manufacturer.
- Cement Industry.
- Tobacco Industry.
- Telecom sector.
- Food Importer sector.
- Paper industry.
- Real Estate sector.
- Aviation Sector.
- Feed fertilizer.
- Flour mills.
- Manufactureres.
- Marque and Restaurants sectors.
- Sugar Mills.
- Tea Industry.
- IT and Tech Industry.
- Ceremaics sector.
- Chemical manufacturer.
- Coal industry.
- Edible Oil Industry.
- Batteries Manufacturer.
- Services Industry.
- Iron and Steel Industry.
- IPPs and DISCO’s.
- Pharmaceutical Industry.
- Insurance and Finance.
- Petroleum Sector.
- Oil and Lubricants.
First Phase of Field Audit of Industries
In the first phase of field audit the FBR authorities have selected some of the sectors to start this initiative. In this first step, Automobile Sector; textile; Iron & Steel; IPP’s & DISCO’s; Pharmaceutical; Finance & Insurance; banks and sugar mills are selected for field audit.
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Hiring of Experts of their Field
FBR will hire the experts of respective field to conduct the field audit of respective department. For instance, to conduct the field audit by FBR to the Sugar Mill, there must be expert who has considerable knowledge of working of Sugar Mills. In this way, these experts of their respective field will help the FBR in rationalizing the tax process implementred within these sectors, departments and mills.
What is the Purpose of FBR Industries Field Audit?
The basic purpose of the FBR field audit of various industries and sectors in Pakistan is to streamline the industry sector in Pakistan. This sector will work on the tax evasion and tax avoid the ance that are the major factors in Pakistan for low level of tax collection all over Pakistan.
