Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Late filers to avail audit closure opportunity

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

November 19, 2018 (MLN): Addressing a seminar in Karachi, Member FBR Taxpayers’ Audit Ms. Nausheen Javaid Amjad informed that FBR has taken an unprecedented facilitation step for taxpayers who filed their returns of income for Tax Years 2015, 2016 and 2017 after closing dates. 

The government has decided to close the audit cases of around 1 million tax payers if they are willing to pay certain penalties.

She added that three different modes for payment of tax or penalty have been provided and now it is up to late-filers to comply the provisions applicable to them and avail the opportunity to close their compulsory audit proceeding  provided that amendment of assessment proceeding u/s 122 has not been initiated by the Department.

She underscored that whole of the scheme is integrated & automated where no human intervention is required which is unprecedented in the history of Pakistan. 

Upon questions from participants that payment of tax or penalty is unjustified, she hastened to add that the opportunity is optional else late-filers may go with the alternative of audit proceeding.

Mr Abdul Qadir Memon  President PTBA in his concluding address said that FBR has earmarked over 1.2 million cases of late-filers for compulsory audit u/s 214D which otherwise was not humanly possible to accomplish. He however lauded the cooperation and efforts extended by Member Taxpayers Audit to realize the issue and devise a solution which is practically agreeable to masses. He finally reminded the participants of the cutoff date to avail the opportunity by 31/12/2018.

Copyright Mettis Link News

Posted on: 2018-11-19T16:49:00+05:00

24336