ISLAMABAD (April 16 2006): The Central Board of Revenue (CBR) has short-listed the names of three tax experts from the private sector for selection as Member, Audit.
These short-listed candidates are Abdur Razzaq, Pervaiz Usman and Mohsin Nadeem.
The CBR has forwarded the names of these persons to the Ministry of Finance for approval. None of the CBR private Members had applied for the slot of Member, Audit, sources said on Saturday.
The selected Member will have to restore the sales tax field audit as per commitment with the World Bank (WB). He would have to devise a practical strategy to conduct joint audit of sales tax and income tax, without causing harassment to the taxpayers.
At present, sales tax field audit has been suspended, which needs to be resumed as it acts as a deterrent against tax avoiders.
Theoretical audit manuals and books may be prepared by an experienced chartered accountant. However, the practical policy to conduct sales tax/income tax audit has not been devised yet.
Sources said that the Member Audit would have to look after the internal audit functions of the CBR, devising effective strategies and transparent operating procedures and standards and developing a professional and consistent audit capability in the field formations.
He would also have to devise systems for ensuring highest standards of integrity and transparency in selection and auditing of cases and devise criteria and procedures for selecting taxpayers for audit.