Islamabad: Advisor to the Prime Minister (PM) on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh has announced the government’s decision to release PKR 22 billion verified refunds of sales tax for all years, in order to offer liquidity support to businesses and promote economic activity in the country, according to the news sources.
Through his twitter account on Monday, the Advisor said that the income tax refunds between PKR 0.1 to 0.5 million will be paid in the upcoming month.
The income tax refund of PKR 1.7 billion, up to PKR 0.1 million for all years are to be immediately released, and the verification of the remaining refunds is to be expedited.
Meanwhile, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that the department is going to alter its valuation model that determines the custom duty and other levied taxes on the import stage, as well as revise the old Customs General Orders (CGO’s).
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.
