Telecom sector''s audit: WHT collection details to be available via online system

The withholding tax collections of telecom companies would 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. It is learnt that the issue of audit of telecom sector was discussed in a recent meeting of the Senate Standing Committee on Finance.
The chairman FBR informed the committee that a unique online system/software had been developed in consensus with the telecom sector by which the telecom companies would submit details of their withholding tax (WHT) collections in a specific format, which would either be audited by the FBR/Auditor General of Pakistan or any specialized audit firm.
Tax authorities said that the companies would submit their WHT information to FBR by the end of the month, however, it would take at least two months for FBR to analyze and conduct a specialized audit of the said information. At the same time, Additional Auditor General of Pakistan (AGP) said that they were in line with the FBR and waiting for the WHT information in the specific format.
Replying to the query, he said that the AGP normally takes 10 percent sample of the total information and conduct audit of that sample, however, they would hold 100 percent audit of 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 has been decided that the FBR would submit a monthly progress report on the specialized audit of withholding tax collected by Telecom sector to the Committee till the completion of specialized audit at an early date.