Pakistan Revenue
KARACHI: Federal Board of Revenue (FBR) on Friday said it processed refund claims with data errors under Fully Automated Sales Tax e-Refund (FASTER) system. The FBR urged FASTER Refund claimants to file refund claims in sequence i.e. July 2019 and then August 2019 and so on. “Claims with data errors, rolled back and re-submitted claims […]
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ISLAMABAD: Federal Board of Revenue (FBR) has paid sales tax refunds worth Rs11 billion through its newly introduced online system since July 01, 2019. In a statement issued on Thursday, the FBR said that it had issued refunds through Fully Automated Sales Tax e-Refund (FASTER) system without human intervention worth Rs11 billion against claims of […]
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ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue, on Tuesday directed Federal Board of Revenue (FBR) to simplify form-H within a week and expedite payment of sales tax refunds. He gave the instruction during a meeting with the office-bearers and members of All Pakistan Textile Mills Association (APTMA). Adviser […]
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KARACHI: Business community has criticized Federal Board of Revenue (FBR) for delaying release of sales tax refunds under newly launched Fully Automated Sales Tax e-Refunds (FASTER) module. Suleman Chawla, President of SITE Association of Industry, while expressing deep concerns over the poor performance of the recently launched Fully Automated Sales Tax e-Refunds (FASTER) module, stated […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended dedicated accounts for prevent fraud in sales tax refunds. Engr. Daroo Khan Achakzai, President, FPCCI while commenting on SRO 981(I)/2019 of dated August 07, 2019 with special reference to Chapter V-A said that there is need of dedicated Head of Accounts sector-wise for […]
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The Federal Board of Revenue (FBR) has cleared Rs 15.6 billion in sales tax refunds against 8,415 refund payment orders (RPOs), marking a significant move to enhance business liquidity and stimulate economic activity in the country.
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ISLAMABAD: The first payment through Fully Automated Sales Tax e-Refund (FASTER) module, against the refund claims for the tax period July, 2019, has been made on Monday September 02, 2019, and the State Bank of Pakistan has confirmed the credit of the refund amount in the bank account of the claimant, said a press release […]
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ISLAMABAD: The government has decided to released tax refunds amounting Rs22 billion immediately for the promotion of economic activities, Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance said in a twitter message on Monday. According to him the government had taken important decision on tax refunds for the promotion of economic activities in […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the government of issuing all outstanding export refunds, rebates and duty drawbacks. In a statement issued on Tuesday, Engr. Daroo Khan Achakzai, President, FPCCI urged the Advisor to the Prime Minister on Finance & Revenue, Dr. Abdul Hafeez Shaikh to fulfil his commitments […]
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ISLAMABAD: Federal Board of Revenue (FBR) issued procedure for sanctioning refund claims on sales tax collected against imported goods. The FBR issued SRO 918(I)/2019 on Thursday to amend Sales Tax Rules, 2006. A new rule 34A is inserted related to sanction of refund claims of import-related sales tax by the collectorates of customs. The FBR […]
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