Federal government to conduct the forensic audit of the taxes, received from the telecom sector of Pakistan. This audit will be conducted with the collaboration provided by the World bank.
According to Express News, the payable taxes of different telecom companies are being monitored through various different ways. The chairman PTA has described that for the monitoring purposes, conducting the forensic audit is part of a habitual process. Also, withholding taxes are also audited by the PTA.
PTA, whose administrative powers now rest with Information Technology & Telecom Division, is also planning to conduct a forensic audit of the telecom companies, in collaboration with the World Bank. The Chairman also reveals that the government though the corporation of mobile phone industry is also conducting electronic monitoring of the telecom sector.
The telecom sector in Pakistan despite the strict tax policies is growing. In the last five years, it has seen an investment of $7 billion. After the merger of Mobilink and Warid have also reduced the players in the industry and has created a huge impact on the telecom sector.
The chairman PTA further revealed that until May 2016, the telecom industry had paid more than 37 billion rupees in withholding taxes and also has paid around 2 billion rupees as federal excise income.