Islamabad: The Federal Board of Revenue (FBR) has cleared PKR 22 billion worth of sales tax refunds related to both exporters and non-exporters, against 8415 Refund Payment Orders (RPOs) through bonds and tax liabilities adjustments for the duration of May 30, 2018-September 6, 2019, according to news sources.
The FBR cleared these sales tax refunds on Wednesday and directed its field formation to reconcile the stalled tax refund claims (including sales and income taxes). An official source revealed that the International Monetary Fund (IMF) had conveyed its intention to the taxation authoirty to ascertain the exact amount stuck up in income tax and sales tax claimant cases.
Advisor to the Prime Minister (PM) on Finance and Revenue Dr Abdul Hafeez Shaikh tweeted that the FBR had cleared PKR 15.6 billion in sales tax refunds to improve business liquidity and economic activity in the country. Similalry, PKR 5.4 billion refunds have been cleared as adjustments and bonds, he added.
In response, the officials confirmed that figures saying PKR 5.4 billion have been cleared in bonds and PKR 1 billion in adjustments, and the sum of it all amounts to PKR 22 billion.
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