Third-party not FBR to conduct audit of tax evaders: Shaukat Tarin

ISLAMABAD: Finance Minister Shaukat Tarin on Friday said that a third-party audit will be carried out of the tax defaulters and now FBR could not harass anyone, ARY NEWS reported.

Speaking on the budget for FY2021-22 in the Senate, the finance minister while responding to Raza Rabbani’s indication towards the arrest of businessmen, said that this time they had introduced a self-assessment option in the budget.

“FBR could not harass people now and for the first time a third-party audit will be carried out,” he said adding that even the person could not be arrested after the audit and a discussion would be held with him after the audit report.

Shaukat Tarin said that the government has received a list of 1.5 million people in this regard and their tax issues are being reviewed.  “Their matters will not be sent to FBR as it could lead to harassment from the FBR,” the finance minister said.

He further announced that after a discussion on suggestions from the Senate body, taxation on food, and milk items and machinery has been withdrawn. “The IMF has recommended imposing a tax of Rs 700 billion,” he shared.

Yesterday, Shaukat Tarin said that there was no concession left for tax evaders in the new budget 2021-22 and implementation on the tax-related decision will be started from July 1.

While informally talking to journalists, he assured that the implementation on the decisions related to tax collection will be started from July 1 and tax evaders will not get any relaxation.

He detailed that there is a chance for tax measures up to Rs264 billion instead of Rs383 billion in terms of the budgeted amount. He added that different sectors have been given relief through the Senate Standing Committee on Finance, Revenue and Economic Affairs.