FBR monitors tax refund repayments to ensure transparency

FBR monitors tax refund repayments to ensure transparency

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 industrial sector.

The FBR said that presently huge amount of sales tax refund claims were laying pending for replication/processing in each RTO/LTU.

The revenue body further said that in this emergency situation the genuine businesses/industries need liquidity to pay salaries to their employees.

The FBR directed the tax offices to process the sales tax refund claims immediately on urgent basis and sanction the admissible amount to the refund claimant as per law.

The FBR directed Chief Commissioner of RTOs/LTUs to monitor the process in order to maintain transparency and fairness.

The chief commissioners have also been directed to report the refund release to FBR on daily basis.