Business community demands income tax refunds

PESHAWAR: Business community here on Thursday voiced concern over undue delay in the payment of outstanding income tax refund and demanded the Federal Board of Revenue to expedite the process to as per commitment of Prime Minister Imran.

In a statement issued here, Sarhad Chamber of Commerce and Industry (SCCI) president Maqsood Anwar Pervaiz said that the trade and activities had been adversely affected by coronavirus outbreak. On the other hand, he added the undue delay in payment of outstanding refund would create liquidity issues for the business community that would further affect businesses, and resultantly it may trigger massive unemployment.

Despite the announcement PM economic relief package worth Rs100 billion, the SCCI chief said the payment of income tax refunds is still the biggest issue, for which he said the Federal Board of Revenue (FBR) was responsible.

He informed, according to Regional Tax Office Peshawar, they have processed the income tax refund claims and have submitted it to FBR Headquarter in Islamabad; however, he said that no taxpayer has received any refund so far in their bank accounts.