ISLAMABAD: The Federal Board of Revenue (FBR) has directed its field formations to conduct scrutiny of the exemption certificates issued during tax year 2020 under SRO 717(I)/2014.
According to a clarification issued by the FBR here on Thursday, the FBR has explained the relevant provisions of SRO 717(I)/2014 and the context of FBRs’ correspondence with field formations. The law stipulates an inherent mechanism for examining the propriety and correctness of the exemption certificates issued during a certain period and such exercise is a routine affair at field formation level. Accordingly, field formations were asked by the FBR to conduct scrutiny of the exemption certificates issued during tax year 2020 at the time of the close of the tax year.
Copyright Business Recorder, 2021
Comments
Comments are closed.