Thursday, April 12, 2018
Pakistan's Federal Board of Revenue has released the financial and compliance parameters it intends to use to select taxpayers for audit for the 2016 tax year.
Taxpayers falling within these parameters will be chosen at random for audit. Once chosen, a taxpayer will be exempt from selection on a random basis for the following two years.
The parameters the Board will have regard to when selecting taxpayers for audit in relation to sales tax and federal excise are:
The parameters for income tax have not been disclosed.
Selection of taxpayers for audit is scheduled to start shortly. The Board's audit policy is available on its website.