ISLAMABAD (July 26 2005): Special audit of 14 sugar mills is underway to ascertain actual sales tax liability of this sector. The CBR has issued instructions to collectors of sales tax to ensure completion of audit, being conducted by chartered accountants, at the earliest.
Official sources told Business Recorder on Monday that chartered accounts have been engaged to conduct special audit of sugar mills located within the jurisdiction of Lahore, Fasialabad, Multan and Hyderabad.
They said that the reason for conducting special audit of sugar mills was the overall decline in the sales tax collection from this sector. This audit could be termed as an audit of the entire sugar sector, they added.