The Federal Board of Revenue (FBR) has issued rules and regulations for audit of taxpayers, Dunya News reported Monday. The FBR has directed the director generals not to audit a person whose reviewed income form contains no contradictions. According to the FBR directions, associations of persons and companies would not be audited whose apparent income and tax have no inconsistency. The director generals have also been told that they could only audit the books of persons and companies of last one year. The FBR says that taxpayers will not be petrified in the name of audit. More than 800 companies would be audited this year, FBR added.
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