ISLAMABAD: The Federal Board of Revenue (FBR) has decided to audit high earning professionals in major cities, including doctors and operators of beauty parlours.
According to the detail, The doctors charging high fees and businesses selling expensive cosmetics will now be under FBR’s scrutiny, information regarding the location, brand, and operation of beauty parlours and aesthetic clinics has already been collected, the first phase of the audit will target 250 high earning doctors across Karachi, Lahore, and Islamabad, with 100 doctors each form Karachi and Lahore, and 50 from Islamabad.
Further more, the paint and cosmetic sectors are under review, and private companies operating in these areas will also be audited for potential tax evaluation to facilitate the audits, FBR has engaged 600 private auditors, while plants to hire an additional 200 in the coming days.
In total, 2,000 private auditors will assist in the process. All auditors are bound to maintain the confidentiality of taxpayer information. Earlier it was emerged that the Federal Board of Revenue (FBR) is set to conduct a historic and comprehensive audit of income tax returns this year.
As per details shared detail, a large-scale audit of income tax returns has been approved, and between 7 to 8 million returns could be examined through an automated digital system during the ongoing fiscal year, according to sources.
