Federal Board of Revenue has launched an online module in Iris for thepurpose of facilitating the filing of applications for the grant of GreenField Industry status. The decision has been motivated by the need topromote investment in the Green Field Industry.
The online module will make it easier for interested individuals to investin the industry. In this regard, two separate applications have beenlaunched under the Income Tax Ordinance, 2001 and Sales Tax Act, 1990.
FBR emphasized that faceless compliance and facilitation through the use ofICT tools is a priority agenda of organizations as per the vision of thepresent government. The Board is moving swiftly in order to ensure thisagenda gets accomplished.
“FBR is moving fast to accomplish this vision as a leader in developing andlaunching such faceless compliance tools for the facilitation of thetaxpayers,” FBR said in a statement.
Moreover, the FBR has amended Sales Tax Rules, 2006 to issue a detailedprocedure for e-audit. Under the new procedure, where a case has beenselected under Section 25 or Section 72B of the Sales Tax Act, as the casemay be, and the competent authority issues directions to conduct e-audit,the laid down procedure shall be adopted.
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The concerned commissioner Inland Revenue shall serve a notice to theregistered person specifying the reasons for selection of his case foraudit.
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