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Business & Finance

FBR to launch online module in Iris to promote Green Field Industry

  • FBR said that faceless compliance and facilitation through the use of ICT tools is a priority agenda of organizations under the vision of the present government.
17 Dec 2020

Federal Board of Revenue (FBR) has launched an online module in Iris for facilitating filing of applications for the grant of Green Field Industry Status.

The development has been made to promote investment in the Green Field Industry and to facilitate such investors. To this end, two separate applications have been provided under the Income Tax Ordinance, 2001 and Sales Tax Act, 1990.

FBR said that faceless compliance and facilitation through the use of ICT tools is a priority agenda of organizations under the vision of the present government.

“FBR is moving fast to accomplish this vision as a leader in developing and launching such faceless compliance tools for the facilitation of the taxpayers,” said FBR in a statement.

Furthermore, the FBR has amended Sales Tax Rules, 2006 to issue a detailed procedure for e-audit. Under the new procedure, where a case has been selected under Section 25 or Section 72B of the Sales Tax Act, as the case may be, and the competent authority issues directions to conduct e-audit, the laid down procedure shall be adopted.

The concerned commissioner Inland Revenue shall serve a notice to the registered person specifying the reasons for selection of his case for audit.