FBR blocks sales tax refund claims worth Rs9.8 billion
The Federal Board of Revenue’s transformation plan yields rapid results, doubling tax return filings and exposing massive fraudulent activities.
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Tag: sales tax refund
Advisory on Claiming Sales Tax Refunds under Updated Law for Tax Year 2024
Karachi, December 4, 2023 – The Federal Board of Revenue (FBR) has issued a crucial advisory to taxpayers in Pakistan, emphasizing the importance of timely claiming sales tax refunds under the updated tax law for the tax year 2024.
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Exporters Voice Outrage Over Abrupt Suspension of Online Sales Tax Refund Processing
Karachi, October 19, 2023 – Exporters in Pakistan are up in arms over the sudden suspension of online processing for sales tax refund claims by the Federal Board of Revenue (FBR).
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FBR Facilitates Submission of Sales Tax Refund Claims of Multi Tax Periods
Islamabad, October 18, 2023 – The Federal Board of Revenue (FBR) has taken a significant step to ease the process of claiming sales tax refunds for multiple tax periods.
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Hosiery manufacturers demand fast release of sales tax refunds
Hosiery manufacturers and exporters have urged the Federal Board of Revenue (FBR) to accelerate the pace of sale tax refund release.
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FBR links tax refund payment to realization of export proceeds
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday linked the issuance of refund payment to the realization of export proceeds.
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FBR issues sales tax refund rules for tractor manufacturers
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday April 29, 2022 issued sales tax refund rules for agriculture tractor manufacturers. The FBR issued SRO 563(I)/2022 dated April 29, 2022 to insert new rules in the Sales Tax Rules, 2006. Refund to Agricultural Tractor Manufacturers READ MORE: FBR transfers senior IR officers in major reshuffle […]
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FBR introduces refund mechanism for pharma sector
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday introduced mechanism for payment of sales tax refund to pharmaceutical sector. In order to implement the mechanism the FBR issued SRO 383(I)/2022. The FBR amended Sales Tax Rules, 2006 through the instant SRO. The government withdrew sales tax exemption on drugs through Finance (Supplementary) Act, 2022 […]
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Tarin orders release refunds to edible oil importers
ISLAMABAD: Finance Minister Shaukat Tarin on Monday directed tax authorities to expeditiously release refunds to importers of edible oil importers. He issued the directive at a meeting with a delegation of Pakistan Vanaspati Manufacturers Association (PVMA). The finance minister directed the chairman of Federal Board of Revenue (FBR) to assure expeditious disbursement of refunds to […]
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FBR’s appeal in bogus sales tax refunds rejected
An appeal of the Federal Board of Revenue (FBR) has been rejected by the President of Pakistan in issuance of bogus refund cases. President Dr Arif Alvi on Sunday disposed of 42 representations of the FBR in cases of bogus sales tax invoices, worth over Rs 1.2 billion. The FBR had filed the representations with […]
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