Thursday June 01, 2023

FBR urged to fix FASTER glitches

By Our Correspondent
March 31, 2023

KARACHI: Pakistan Hosiery Manufacturers and Exporters Association has dispelled the claim that the Federal Board of Revenue (FBR) prepared the misleading sales tax order dated March 15 after consulting PHMA and other textile associations.

The PHMA, in a statement on Thursday, said that the FBR’s claim that the stakeholders were consulted before finalising the order is incorrect. PHMA said that stakeholders’ associations were neither given any agenda of the meeting for preparation in advance nor any such agenda was shared in the subject meeting held at FBR. In fact, PHMA was not invited. Invitation to attend the meeting was sent when PHMA wrote a letter to the FBR inquiring about convening of such meeting as per FBR’s tweet.

Furthermore, the PHMA has requested the removal of flaws in the order and rectification of technical glitches in the FBR’s sales tax FASTER system, which has been causing delays in the processing of sales tax refunds, resulting in a liquidity crunch and hampering exports.

The PHMA also pointed out several flaws and discrepancies in the procedure that has worsened the grievances of the textile exporters. The FBR has not yet responded to the allegations made by the PHMA.