Apr 2
Taxation, Trade & Industry
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.
Mar 16
Taxation, Top stories
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.
Apr 29
Taxation, Top stories
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 […]
Mar 7
Taxation
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 […]
Aug 23
Taxation, Trade & Industry
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 […]
Aug 22
Taxation
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 […]
Jun 10
Taxation
FBR directs IR offices to dispose of all refund cases by July 31
ISLAMABAD: Federal Board of Revenue (FBR) has directed tax offices to dispose all pending refund claims by July 31, 2021. The FBR also facilitated exporters by enhancing risk parameters for release of sales tax refunds. In a letter to all chief commissioners of Inland Revenue, the FBR said that it had been decided to enhance […]
May 22
Taxation
FBR enhances refund to export ratio
ISLAMABAD: Federal Board of Revenue (FBR) has revised the processing parameters and increased refund to export ratio to 15 percent. According to Sales Tax General Order (STGO) No. 05 of 2021, the FBR announced to re-fix the ceiling of parametric refund-to-export ratio from the previous 12 percent to 15 percent of the export value for […]
Dec 18
Taxation
FBR constitutes refund resolution committee for KPK taxpayers
ISLAMABAD: Federal Board of Revenue (FBR) on Friday constituted a provincial complaint resolution committee for settlement of issues relating of sales tax refund matters for Khyber Pakhtunkhwa (KPK). The FBR constituted the complaint resolution committee Khyber Pakhtunkhwa comprising following members for settlement of sales tax refund issues for taxpayers falling under the jurisdiction of field […]
Dec 15
Taxation
FBR constitutes refund resolution committees for Punjab taxpayers
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday constituted complaint resolution committees for settlement of issues relating to sales tax refund matters for the taxpayers in the province of Punjab. The FBR constituted two complaint resolution committees for Punjab North and Punjab South. The complaint resolution committee Punjab (South) shall comprise following members for settlement […]