audit Archives - Pkrevenue.com

FBR to hire 396 more private auditors to strengthen tax scrutiny

May 19, 2026May 19, 2026Shahnawaz Akhter

Tax authority expands CRM-based audit system to boost compliance and revenue collection The Federal Board of Revenue plans to hire an additional 396 private auditors by the end of June 2026 to strengthen tax scrutiny and improve compliance monitoring, according to official sources.

FBR to introduce new audit selection parameters to raise tax revenue

May 17, 2026May 17, 2026Shahnawaz Akhter

Tax authority plans broader reforms to strengthen compliance and expand tax base The Federal Board of Revenue (FBR) will develop new audit selection parameters aimed at improving revenue collection and broadening Pakistan’s tax base as the country faces persistent tax shortfalls, officials said.

DFML Defaults Over Rs 1 Billion in Repayments: Auditor’s Report

November 22, 2024November 22, 2024Faisal Shahnawaz

Karachi, November 22, 2024 – An independent auditor’s report prepared by Feroz Sharif Tariq & Co. has revealed that Dewan Farooque Motors Limited (DFML) has defaulted on the repayment of long-term loans from financial institutions amounting to Rs 1.097 billion. Additionally, short-term financing facilities totaling Rs 4.096 billion have expired and have not been renewed […]

FBR Tightens Screws on Tax Evaders Through Audit Changes

August 8, 2024August 8, 2024Shahnawaz Akhter

Karachi, August 8, 2024: In a bid to enhance tax compliance, the Federal Board of Revenue (FBR) has introduced significant changes to the sales tax audit process. The new measures, outlined in Sales Tax Circular No. 3, aim to make audits more targeted and effective.

SBP Updates List of Eligible Audit Firms for Banks and Financial Institutions

October 25, 2023October 25, 2023Shahnawaz Akhter

KARACHI, October 25, 2023 – The State Bank of Pakistan (SBP) has recently made updates to the list of eligible audit firms for conducting audits of banks and financial institutions.

Federal Tax Ombudsman Directs FBR to Conduct Audit of Banks for Withholding Tax Compliance

June 22, 2023July 2, 2024Mrs. Anjum Shahnawaz

Islamabad, June 22, 2023: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to regularly conduct audit of banks to check compliance with the withholding tax provisions.

FBR withdraws tax audit notices sent more than once in four years

January 7, 2023January 7, 2023Faisal Shahnawaz

KARACHI: Federal Board of Revenue (FBR) has withdrawn tax audit notices to taxpayers, who were selected for audit once in last four years.

KTBA flays notices to taxpayers already audited

December 30, 2022December 30, 2022Hamza Shahnawaz

Karachi Tax Bar Association (KTBA) has flayed the issuance of audit notices by tax offices to taxpayers, who already selected once for audit in past four years.

FBR launches forensic audit of WeBOC

February 13, 2022February 13, 2022Mrs. Anjum Shahnawaz

ISLAMABAD: The Federal Board of Revenue (FBR) has launched forensic audit of Web Based One Customs (WeBOC) to determine the accuracy and correct application of duty and taxes. In order to conduct forensic audit, the FBR invited firms for the assignment to conduct audit of the internal controls of WeBOC system for quality assurance for […]

PTBA criticizes third-party audit of taxpayers

January 28, 2022January 28, 2022Mrs. Anjum Shahnawaz

Pakistan Tax Bar Association (PTBA) has expressed concerns over decisions of the authorities to conduct audit of taxpayers through external auditors. In a statement, the apex tax bar of the country, expressed concerns over the decision taken by the Federal Board of Revenue (FBR) regarding the assignment of cases of Income Tax, Sales Tax and […]

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