Islamabad: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi on Wednesday announced that the department had used its automated payment gateway facility to release PKR 5.5 billion in refunds for textile exporters, according to news sources.
The chairman said in a tweet that the department had made tax refunds using the Fully Automated Sales Tax E-Refund (FASTER) system. He opined that this new automated system made sure that the whole refund system was fully impersonal and free of corruption and harassment. He also said that the department was working to resolve issues with the submission of forms.
FASTER was deployed in August to expedite the release of refunds in order to benefit five major export sectors, after the withdrawal of the zero-rated regime. Earlier Chairman Zaidi had stated that the FBR received sales tax refund claims amounting to PKR 10.14 billion, between the months of July and October 2019. He said that cases worth PKR 8.02 billion had been processed, out of which 1,604 claims had been accepted, and payments would be made in this regard soon. The chairman also said that PKR 16 billion worth of refunds were currently in process, because taxpayers had not submitted the form-H — as they hadn’t yet consumed the raw materials they had purchased.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
