The Federal Board of Revenue (FBR) has failed to complete audit of cases selected through random selection, says an FBR report issued on Saturday. The FBR report on one-year performance of 2009-2010 admitted that the audit remained a total failure during this period. The audit neither generated additional revenue nor showed any results.
The efforts to complete audit of cases selected through random balloting also failed to achieve the desired results. During 2009-10, FBR could not realise potential additional taxes through audit. Corporate audit cases were selected for audit by Charter Accountant Firms during 2009-10 through random draw but none of them could be completed during 2009-10.
A number of taxpayers have got stay orders from courts against random selection of their cases for audit. All these cases are still pending in the courts, the report added. The FBR report clearly reflected that the FBR Audit Wing has been totally failed to generate any revenue from proper audit during the said period.