FBR picks 12,533 cases for tax audit; amnesty beneficiaries safe

FBR has selected 12,533 cases through computerized random balloting to conduct auditing for income, sales taxes and federal excise duty despite previous assurance of holding audit for 3 years. Speaking on the occasion Finance Adviser Hafeez Shaikh said that refunds process for the 5 export-oriented sectors has been streamlined through online system and income tax refunds amounting up to PKR 100,000 were already paid out and now the refunds of up to PKR 50Mn would be repaid. Out of PKR 40Bn, the FBR has issued PKR 28Bn and another PKR 12Bn would be released soon.