ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued draft rules for issuance of centralized payment of income tax refund. The FBR issued SRO 1239(I)/2020 to issue draft amendment to Income Tax Rules, 2002. According to the rules, the FBR shall establish a Centralized Income Tax Refund Office (CITRO) for centralized payment of refund amount […]

ISLAMABAD: Federal Board of Revenue (FBR) has established a cell to probe fake refund claims in order to make system transparent. In an official order issued on Thursday, the FBR said that to streamline the payment of refund claims and to initiate enforcement measures to minimize the risk of inadmissible refund claims, a system based […]

ISLAMABAD: Federal Board of Revenue (FBR) on Monday admitted to pay an amount around Rs232 billion as sales tax and income tax refunds to taxpayers. The FBR disclosed the amount of payable refunds at a meeting that was chaired by Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue. Muhammad Hammad […]