APTMA hails tax refunds payment

KARACHI: The All Pakistan Textile Mills Association (APTMA) has appreciated the Federal Board of Revenue (FBR) for accelerating payments of tax refunds, a statement said on Wednesday.

An APTMA delegation called on Dr Muhammad Ashfaq Ahmed, Member Inland Revenue Operations of the FBR, and discussed in detail the issues pertaining to the release of sales tax refunds in72 hours, removing irritants of the Annexure-H, issuance of income tax exemption on electricity bills, delay in income tax refunds and other irritants faced by the export-oriented industries, it added.

Dr Ashfaq told APTMA delegation that the release of refund claims has been expedited by the board, and it would be ensured that all sales tax refunds are paid within 72 hours.

All the systematic issues relating to Annexure-H would be removed within a week, which will facilitate exporters in filing refund claims, he added.