- FBR is auditing exporters due to a decline in income tax collection for February 2025.
- The audit aims to assess tax compliance and address revenue discrepancies.
- Advance income tax from exports fell by 16% compared to the previous year.
- There is a contradiction between tax revenues and export earnings, with exports rising by 2.37%.
- Amendments in the Income Tax Ordinance now require exporters to declare full income and assets.
- The removal of the final tax regime aims to increase transparency and prevent underreporting.
- Advance tax collections showed modest growth of 2% from January to February 2024-25.
- Overall exports rose by 8.42% from July to February 2024-25.
- The FBR aims to ensure compliance with revised tax regulations through the audit.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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