FBR allows refund, adjustment under abolished sales tax special procedure

ISLAMABAD: Federal Board of Revenue (FBR) has allowed refund and adjustment that are stuck up as sales tax special procedure was abolished through Finance Act, 2019. Read more »

All sales tax refund claims to be processed through risk management system

ISLAMABAD: Federal Board of Revenue (FBR) has said that every refund claim of sales tax refund shall be processed through Risk Management System of the FBR’s computerized system. Read more »

Sales Tax Act 1990: Invoice issued by suspended taxpayers not to be entertained for refund, input adjustment

KARACHI: Any invoice issued by a person, who is suspended or black listed by tax authorities, may not be acceptable for refund claim or input adjustment by another registered person. Read more »

Increase in refund claims by registered persons selected for audit

KARACHI: Federal Board of Revenue (FBR) has selected sales tax audit of those sales tax registered persons whose refund claims increased in a month over the corresponding month last year. Read more »

Finance Supplementary (2nd Amendment) Act 2019: FBR to issue sales, income tax refund bonds

ISLAMABAD: Federal Board of Revenue (FBR) will issue sales tax and income tax refund bonds through its subsidiary company ‘FBR Refund Settlement Company (Private) Limited. Read more »

FPCCI laments delay in releasing refunds, duty drawback

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented delay in issuance of refunds and duty drawback to exporters. Read more »

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

KARACHI: The government will issue promissory notes for payment of sales tax refunds and an annual profit of 10 percent will be given on these financial instruments, sources in Federal Board of... Read more »