Karachi, March 7, 2024 – The Federal Board of Revenue (FBR) has issued crucial instructions to tax offices regarding the expeditious handling of deferred sales tax refund claims.
KARACHI: Foreign investors operating in Pakistan have demanded to clear all pending sales tax refunds in next six months. Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors, in its proposals for budget 2021/2022 demanded that all pending tax refund be cleared within next six months in an orderly/ prearranged […]
ISLAMABAD: A representation of Federal Board of Revenue (FBR) has been rejected by the President of Pakistan on Friday that was filed against an order passed by the Federal Tax Ombudsman (FTO) in bogus refund case. According to details, President Dr. Arif Alvi rejected the FBR’s representations directing the tax authorities to recover amount of […]
KARACHI: A team of Federal Board of Revenue (FBR) will brief taxpayers about the procedure for filing Annexure-H which is mandatory for filing sales tax refunds. According to a circular, a technical committee of the FBR is scheduled to organize workshop/Webinar for orientation of SME manufacturers-cum-exporters and commercial exporters and tax consultants with regards to […]
ISLAMABAD: Federal Board of Revenue (FBR) has released Rs51.5 billion sales tax refunds through fully automated online system since July 2020. The FBR on Tuesday released information of release of refunds through Fully Automated Sales Tax E-Refund (FASTER) system. As per record, since July 2019, a total of refunds amounting to Rs. 64.5 billion were […]
ISLAMABAD: Federal Board of Revenue (FBR) has initiated the monitoring to ensure transparency in repayment of tax refunds. An office order circulated to all Regional Tax Offices (RTOs) and Large Taxpayers Units (LTUs), the FBR said that the prime minister had announced relief package for the industry which included tax refunds of Rs100 billion to […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that an amount of Rs56 billion was paid as sales tax refunds to improve liquidity of exporters. The FBR shared information about refund claims sanctioned through FASTER (Fully Automated Sales Tax e-Refund) system developed for quick processing of refunds due to exporters. Since July 2019, Refund […]
ISLAMABAD: Economic Coordination Committee of (ECC) the Cabinet on Monday approved Rs75 billion for Federal Board of Revenue (FBR) for the repayment of tax refunds. Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired a special meeting of the ECC, which approved Rs75 billion for FBR to enable them to […]
ISLAMABAD: Federal Board of Revenue (FBR) has allowed taxpayers to submit their stock position for the period July – September 2019 up to March 15, 2020 in order to claim sales tax refunds under newly only verification and issuance system. In an official memorandum issued on Thursday, the FBR condoned the time limit for filing […]
KARACHI: Regional Tax Office (RTO)-II Karachi has initiated criminal proceeding against persons involved in obtaining sales tax refunds on fake and flying invoices. According to statement on Tuesday, the tax office had unearthed a gang of fraudsters who were engaged in tax fraud on the strength of bogus/fake/flying invoices and claimed dubious/bogus Rs230 million sales […]