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Tax Audit

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Tax audit
Audit by the IRS or other tax-collecting agency to determine whether a taxpayer has paid the correct amount of tax.

Tax Audit
In taxation, the process in which the tax collection agency reviews the reports of an individual or company to see if all income, deductions, and/or credits reported accurately reflect reality. This is done to ensure that each individual or company pays his/her/its full tax liability. Audits are conducted on a random basis, or when something appears remiss on a tax return. See also: Tax Avoidance, Tax Evasion.


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A tax audit in a foreign jurisdiction may affect the amount of foreign tax credit that a taxpayer claimed on a U.
ISLAMABAD, June 19, 2009 (Balochistan Times) --The Federal Board of Revenue (FBR) and Institute of Chartered Accountants of Pakistan (ICAP) have signed a memorandum of understanding (MoU) for the development of Tax Audit Framework and its implementation.
June 19, 2009 (Frontier Star) -- Federal Board of Revenue (FBR) and Institute of Chartered Accountants of Pakistan (ICAP) have signed a memorandum of understanding (MoU) for development of Tax Audit Framework and its implementation.
 
 
 
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