The Auditor General of Pakistan (AGP) has discovered variations of Rs201.39 billion in the figures of tax receipts, and referred to these as ‘evasion’ in the audit report on the accounts of the Federal Board of Revenue (FBR) for 2017-18.
The AGP has recommended various measures for the recovery of evaded taxes from the FBR along with fixing of responsibility. Those found responsible be proceeded against under the relevant disciplinary rules, the AGP added.
The observation includes cases of non/short assessment of taxes, grant of incorrect exemptions, non-levy of minimum tax, non-levy of default surcharge, non-recovery of adjudged revenue, inadmissible adjustment of input tax, incorrect sanction of refunds.
Source: Pakistan Today
For any queries related to Tax, SECP, Shares, Stocks or Finance write to us at firstname.lastname@example.org