Irregularities worth Rs 201 billion revealed in FBR account for 2017-18

Irregularities worth Rs 201 billion revealed in FBR account for 2017-18
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ISLAMABAD - Irregularities worth Rs 201 billion have been revealed in FBR account for 2017-18.

The Auditor General of Pakistan (AGP) has highlighted discrepancies of Rs. 201.39 billion in the Federal Board of Revenue (FBR)’s accounts for 2017-18.

The AGP termed these tax losses as an ‘evasion’ and recommended various measures for its recovery.

The auditor general made the following observations on FBR’s tax receipts for 2017-18:

- Non/short assessment of taxes. - Granting incorrect exemptions. - Non-levy of minimum tax. - Non-levy of default surcharge. - Non-recovery of adjudged revenue. - Inadmissible adjustment of input tax. - Incorrect sanction of refunds.

The report pointed out a loss of Rs. 22.203 billion due to non-realisation of sales tax on subsidized electricity sale and Rs. 8.45 billion due to non-realization of concealment of sales/income tax returns.

Around Rs. 35.5 billion were lost due to non-charging/non-realization of sales tax/sales tax adjustments & exemptions and due to non-recovery of adjudged dues.

Rs. 13.29 billion were lost due to concealment of income/asset taxes while a Rs. 2.4 billion loss was recorded due to non-imposition of minimum tax on the income.

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