FBR to use special system to audit WHT returns of Telecom Company:
The withholding tax collections of telecom companies will be available to the Federal Board of Revenue (FBR), Auditor General of Pakistan or specialized audit firms for audit purposes through an online system/software developed in consultation with telecom sector.
The issue of audit of telecom sector was discussed in a recent meeting of the Senate Standing Committee on Finance. Chairman of FBR informed all committee members that he made an online system with telecom sector which will submit the details of WHT collections. This will also be audit from FBR Auditor General of Pakistan. Tax authorities said that companies will submit their WHT to FBR at the end of month. It would take two month to apply this system. AGP said that we are in contact with the line of FBR and waiting for the WHT information in the specific format.
AGP take normally 10% sample of total information and conducts audit of that sample, 100% of audit takes the WHT information of telecom companies. The Committee deferred the matter for a future meeting with the direction to the FBR to submit a monthly progress report to the Committee in that regards till the completion of specialized audit at an early date. It is decided by the FBR that it would submit monthly progress by making a report.