SBP seeks feedback on automaton of tax refund payment

KARACHI: State Bank of Pakistan (SBP) has invited business community to provide feedback on an ongoing project of automation of payment of tax refunds by the central bank. Dr. Reza Baqir, Governor,... Read more »

FBR allows filing annex-H for July-Dec up to June 30

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced extension in date for filing annexure-H (stock position) up to June 30, 2020 for the period July – December 2019. Filing Annexure-H is... Read more »

FBR suggested to abolish tax refund culture

KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish tax refund culture and bring down sales tax at five percent. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in... Read more »

Tax refunds should be adjustable against liability recommended

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended inter adjustment of income tax and sales tax refunds should be made part of the law. In its recommendations for budget... Read more »

Rs100 billion released for tax refunds, duty drawback repayments

ISLAMABAD: The government has released Rs100 billion for repayment of tax refunds and duty drawback in order to ease liquidity problems of industry, especially in the wake of coronavirus outbreak and lockdown.... Read more »

No refund payment made on fake claims: FBR

KARACHI: Federal Board of Revenue (FBR) has said that it had never paid refunds against fake claims. Read more »

Criminal proceedings against officials of RTO-II Karachi in fake sales tax refunds ordered

KARACHI: Federal Tax Ombudsman (FTO) has directed tax authorities to initiate criminal proceedings against officials involved in processing bogus sales tax refunds. Read more »

FBR advised to allow sales tax refunds on local supplies

KARACHI: Karachi Tax Bar Association (KTBA) on Tuesday advised Federal Board of Revenue (FBR) to allow sales tax refund to manufacturers making local supplies. Read more »

FBR allows filing Annexure H for July 2019 to claim sales tax refund

ISLAMABAD: Federal Board of Revenue (FBR) has allowed filing of statement containing stock position for July 2019 to taxpayers for claiming sales tax refunds. Read more »

Exporters perturb over part of tax refund claims disallowed without reason

KARACHI: Pakistan Hosiery Manufacturers Association (PHMA) on Friday pointed out reduction in refund amount against original claim. Read more »