- FBR is targeting CFOs to curb fake invoices
- FBR admitted failure to eliminate fake and flying invoices contributing to tax gap
- Chairman Rashid Mehmood warned CFOs to ensure authenticity of sales tax returns
- CFOs now required to submit affidavits confirming accuracy of tax filings
- Affidavits must affirm no fake or flying invoices included, accurate reporting of turnover, and no fictitious figures
- CFOs face severe legal consequences for fraudulent practices
- FBR provided sample affidavit for guidance
- Tax experts oppose holding CFOs accountable for fraudulent invoicing
- Some experts believe legal responsibility should rest with company directors or owners
- Former president of Karachi Tax Bar Association criticizes FBR’s approach and suggests addressing corruption within FBR’s ranks.
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.
