FBR to launch new audit framework next week: Shabbar Zaidi

FBR to launch new audit framework next week: Shabbar Zaidi

Syed Shabbar Zaidi, Chairman of the Federal Board of Revenue (FBR), revealed on Friday that a new audit framework is set to be introduced next week, aiming to streamline tax procedures and enhance ease of compliance for taxpayers.

In a statement shared on social media, Zaidi emphasized the forthcoming launch of a taxpayer-friendly, simplified, and efficient audit framework slated for the first week of October 2019. He highlighted that the primary objective of this initiative is to facilitate reasonable taxpayers while fostering a significant transformation in the tax culture of the country. Furthermore, he noted that the new framework is designed to minimize unnecessary interactions between tax officials and taxpayers, thereby reducing bureaucratic hurdles in the tax assessment process.

Addressing concerns regarding the relationship between the FBR and small traders, the Chairman refuted claims of any deadlock between the two parties. He emphasized the integral role of traders in the economy, acknowledging their contribution to the country’s economic landscape.

Zaidi reaffirmed the FBR’s commitment to engaging with traders and welcomed their suggestions and recommendations aimed at promoting the interests of both the economy and the people of Pakistan. He stressed the importance of collaboration between the regulatory authority and traders to ensure that tax policies are conducive to sustainable economic growth and development.

The announcement of the new audit framework comes amidst ongoing efforts by the government to revamp the country’s taxation system and improve tax compliance. With the introduction of this taxpayer-friendly initiative, the FBR aims to create a more transparent, efficient, and business-friendly environment that encourages voluntary tax compliance while discouraging tax evasion and avoidance practices.

The launch of the new audit framework is expected to be a significant milestone in the FBR’s ongoing reforms agenda, signaling the government’s commitment to promoting a culture of tax transparency, fairness, and accountability in Pakistan.