Islamabad: Adviser to the Prime Minister (PM) on Finance and Revenue Dr Abdul Hafeez Shaikh has asked the Federal Board of Revenue (FBR) to clear income tax refund claims of up to PKR 50 million in two weeks — a news source reported earlier today (July 17). He added that the government has a transparent policy for refunding all old and new pending refunds.
Shaikh further said that during Fiscal Year 2020, the government had released nearly PKR 140 billion in refunds; which was double the amount released during Fiscal Year 2019. He added that the government had launched the process for refunding income tax claims of up to PKR 18 million in the said initiative’s first phase.
In the next phase, income tax claims of up to PKR 50 million will be refunded in 2 weeks — with the total number of refunds amounting to PKR 40 billion.
