Islamabad: The Federal Board of Revenue (FBR) recently notified that it was ‘actively working’ to formulate a new-mechanism for conducting the e-audit of taxpayers, according to a news report published on September 17. The taxation agency further stated that it would finalise the policy draft following consultations with both the Member Legal and Member Inland Revenue Operations.
A tax official explained that e-audit utilised computer records to complete all or parts of the audit of registered taxpayers. He said that the ‘faceless audit’ process was designed to confirm the information declared by the FBR’s central database, in addition to highlighting any discrepancies. The e-audit system will remove the need for social interaction; however, a number of quality-assurance trails will have to be administrated before the implementation of this system, he further stated.
According to reports, the proposed e-audit policy is expected to impact the registered taxpayers’ perception of the audit process. It was also informed that risk-based audit will be one of the key points of concern under the upgraded policy and complete automation of cases’ allocation will also be ensured. As per the proposed plan, 90% of the audit should be conducted of the large taxpaying units.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
