ISLAMABAD - The government on Thursday has selected 77,500 tax returns of six categories for audit through random computer balloting for the period from 1st July 2012 to 30th June 2013.The government has selected audit cases up to 12 percent of total returns filed by taxpayers for the Tax Year 2013 (Income Tax)/Tax Period July 1, 2012 to June 30, 2013 (Sales Tax/FED), as it selected 77,500 cases out of total returns filed 9,70,537.Random computer ballot was conducted here today at Federal Board of Revenue, Islamabad for selection of cases for audit for Tax Year 2013 and Tax Period 1st July 2012 to 30th June, 2013 in respect of Income Tax, Sales Tax and FED at FBR House, Islamabad. The Minister for Finance, Revenue, Economic Affairs, Statistics and Privatisation, Senator Muhammad Ishaq Dar was the chief guest on the occasion. Random computer ballot was conducted in respect of six categories i.e. Corporate cases of Income Tax, Sales Tax, FED and non-corporate cases of Income Tax, Sales Tax and FED. Senator Ishaq Dar initiated the ballot process by pressing the computer button. Representatives of various Chambers and Tax Bars also participated in the ballot process. Around 77,500 returns have been selected for audit in respect of six categories. National Tax Numbers of cases selected for audit have been displayed on the official website of FBR. Category wise break-up of 77,500 returns is as under income tax (corporate) are 1876 out of total 25.046. Income tax (Non-corporate) is 63,050 out of 840,675. Cases of selected of Sales Tax (corporate) for audit are 1410 out of total case of 11757. Meanwhile, cases of Sales Tax (Non-corporate) for audit are 11,095 out of 92,455. Similarly, cases of Federal Excise Duty selected for audit are 45 out of total 402. Meanwhile, Federal Excise Duty (Non-Corporate)’s cases selected are 24 out of total 202. In his address, Finance Minister Senator Ishaq Dar highlighted the economic and tax policies of the government.
There has been far improved revenue collection of Rs 319 billion by FBR in the first two months (July and August) of current financial year 2014-15 as compared to corresponding period last year when Rs279 billion were collected. Foreign remittances have also been on the up for which overseas Pakistanis deserve commendation. The Minister also added that he had approved constitution of the Tax Reforms Commission which would put up recommendations for further boosting and improving the tax collection system. Representatives of Chambers of Commerce and Industry, tax bars and FBR officers attended the ceremony. Chairman, FBR also addressed the audience on the occasion.