ISLAMABAD: The government has decided to released tax refunds amounting Rs22 billion immediately for the promotion of economic activities, Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance said in a twitter message on Monday.
According to him the government had taken important decision on tax refunds for the promotion of economic activities in the country and to provide liquidity support to businesses.
He said that it was decided to issue Rs22 billion of verified sales tax refunds for all years to be released immediately.
Further, Rs1.7 billion of income tax returns (up to Rs100,000) for all years to be released immediately.
The verification process for other outstanding refunds to be expedited, he said.
He also announced that income tax refunds between Rs1 billion to Rs5 billion for all years will be paid next month.