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Business

July 18, 2017

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FBR to settle refund claims in two days

FBR to settle refund claims in two days

ISLAMABAD: Federal Board of Revenue (FBR) will clear refund claims of up to one million rupees against 6,853 refund pay orders (RPOs) issued by April 30 within the next two days, sources told APP on Monday. 

The next part of the refund commitment would be fulfilled by making payments against RPOs with amount more than Rs1 million by August 14. Finance Minister Ishaq Dar, in the budget speech for 2017/18 fiscal year, announced that taxpayers’ long outstanding demand for payment of refunds would soon be addressed and the sales tax refunds against refund payment orders issued up to April 30 would be paid in two stages. 

Our correspondent adds:  Minister Dar visited FBR late last week to attend a ceremony regarding payment of sales tax refunds. “For the first time refund payments were made by direct electronic transfer to claimants’ bank accounts through State Bank in November 2016,” he said in a statement. “The payments made in the ceremony will also be transferred in the same manner to the claimants’ accounts in the next two working days.” 

Finance minister said this measure is aimed at enhancing transparency and facilitation and reducing contact between tax collectors and the taxpayers. Minister welcomed the new Chairman FBR Tariq Mahmood Pasha and hoped that the new Chairman and his team will strive to overcome the challenges and make all-out efforts to achieve the target for the new financial year and simultaneously accord due priority to facilitation of taxpayers.

“The government is conscious of the problems being faced by the taxpayers and taking a number of steps to resolve these problems,” he said. “The ceremony is part of such measures and through this first part of the commitment made in the budget speech is being fulfilled.”  Finance minister, in the concluding part of the ceremony, pressed the button of FBR’s computerised system to remit the bank advice to the State Bank for transfer of the involved amount.

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