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CBR to probe non-corporate taxpayers' income during third-party audits

ISLAMABAD (March 01 2007): The Central Board of Revenue (CBR), during the upcoming field audit at national level, is planning to examine credit cards data and commercial transactions at banks, including the State Bank of Pakistan (SBP), for verifying information declared by taxpayers of non-corporate sector.

Sources told reporters on Wednesday that the Board would use third-party data as a tool to examine the income declared by the taxpayers. The verification of data from external sources would give a clearer picture about the state of business affairs of the registered persons in the non-corporate sector. In this connection, the Board is making arrangements for collecting data from different sources for utilising it during the taxpayer's audit.

Sources said that the potential source of information covers a number of departments. The data from some of these sources would help in collecting information about the taxpayers' actual income. However, if the CBR gets access to these sources, then it would play a key role in the data verification exercise. But, collection of information from these sources would depend on the facility or interface with these departments. For this purpose, the CBR's availability of resources for collecting data from these agencies is also being examined.

Potential sources of information include federal government; National Database and Registration Authority (Nadra); AGPR & MAG; Ministry of Finance; Ministry of Industries; Minfal; Commerce; Federal Bureau of Statistics; IPRO; Pakistan Export Development Authority; security exchange data; investment data (bonus shares and dividend) and business registration.

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