FBR to Launch Field Audit of 42 Key Industries Nationwide

The Federal Board of Revenue (FBR) will conduct a field audit of 42 top sectors/industries across the country with the assistance of sectoral experts. To achieve this, the FBR has decided to appoint 102 audit experts specializing in these 42 sectors/industries. The finalized list of sectors includes: Automotive, Aviation, Banks, Beverages, Cement, Ceramics, Chemicals, Coal, Departmental Stores, Edible Oil, Education, Electronics, Feed, Fertilizer, Flour Mills, Food Importers, IT, Manufacturers, Batteries, Copper Manufacturers, Mobile Manufacturers, Paper, Chipboard & Packaging Manufacturers, Plastic, Poultry, Power, Real Estate, Restaurants and Marquees, Rice Mills, Services, Sugar, Tea, Telecom, Textile, and Tobacco. In the first phase, the field audit will focus on the following sectors: Automobile, Textile, Iron & Steel, IPPs & DISCOs, Pharmaceuticals, Finance & Insurance, Banks, Sugar, Chemicals & Fertilizers, Real Estate/Builders & Developers, Petroleum, Oil & Lubricants, Cement, Telecommunication, and Tobacco. The responsibility for ensuring the quality of audit mentors and sector experts will rest with HR firms. A Selection Committee will be constituted to assess and finalize the suitability of the experts shortlisted for deployment from the list provided by the respective HR firms, as outlined in the FBR’s requirements. The selection process may be conducted either in person or virtually, depending on feasibility. According to the requirements communicated by the field formations, the sectors prioritized for the first phase have been listed, the FBR added.