FBR seeks Rs47.8bn in tax audits, recovers only Rs529m in FY23

MG News | January 08, 2024 at 12:43 PM GMT+05:00

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January 08, 2024 (MLN): The Federal Board of Revenue (FBR) generated a demand of Rs47.8 billion in audit cases related to income tax and sales tax but managed to recover only Rs529 million in FY23.

Income tax audits

According to the data, the opening balance of income tax audit cases in July 2022 was 8,904, with a cumulative addition of 1,952 cases during the fiscal year.

Additionally, the number of cases finalized during this period was 4,313, leaving a pending demand of 3,420 cases.

The total demand created amounted to Rs39.26bn, of which only Rs440.16m was collected.

Sales tax

Going forward, the opening balance of cases in July 2022 stood at 2,240, with an addition of 246 cases during the fiscal year.

The finalized cases totaled 712, leaving a pending demand for 1,350 cases.

The demand created in sales tax cases reached Rs8.54bn, with a meager collection of Rs89.25m.

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