Option of refund through bonds can be availed by March 25: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has asked sales tax refund claimants to avail option of bonds by March 25, 2019.

“Those who wish to be included in the first phase of bond issuance may furnish their options by March 25, 2019,” the FBR said in a notice on Thursday.

The FBR said that in order to facilitate exporters and other businesses, it has been decided to issue them sales tax refund bonds in the Sales Tax Act, 1990 for this purpose:

The bonds shall be tradeable, SLR eligible and shall act as collateral for getting bank loans.

The bonds also carry simple profit of 10 percent per annum over three-year maturity period.

The FBR said that those claimants willing to get refund payment through bonds may furnish their options.

(Visited 37 times, 1 visits today)

1 Comment

  1. This policy is purely promoting to take interest (Sood) in the business community. Please do not induce business men to go fight against ALLAH. Please close this policy inaugurated under 2nd Finance supplementary Act, 2019

Leave a Reply

Your email address will not be published. Required fields are marked *