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.