‘Upgraded version of Faster system launched for speedy issuance of exporters’ refunds’

FAISALABAD: Federal Board of Revenue IR operations member Dr Muhammad Ashfaq has said that an upgraded version of Fully Automated Sales Tax E-Refund (Faster) system has officially been launched for expeditious and transparent processing and issuance of exporters’ refunds.

Addressing the textile exporters at the PATEA Headquarter office here on Saturday, he said that new upgraded system would ensure that all refund claims which were filed were processed and no refund claim would be stuck up at pre-processing stage. Highlighting the core developments, he said that a new dashboard had been activated at FBR E-portal to view the stage-wise update regarding refund claims without contacting any officials of FBR or PRAL. A mobile App to enable a Sales Tax Refund claimant to view the status of refund claim at each stage of processing had been made a part of the Faster plus system, he told.

Responding to the issues raised by textile exporters linked with sales tax refunds processing, Ashfaq informed that payment of pending income tax refunds beyond Rs 50 million would be started soon as the FBR was desirous to clear the balance sheet till the end of this financial year. He maintained that necessary instruction for payment of deferred and u/s 66 cases had already been forwarded to the concerned circles. To a question, he said that commercial exporters were very important part of economy and in order to streamline their refund payment, the FBR was working with the SBP. He reiterated that the government was fully committed to expedite growth of commerce to maximum possible level by using all available means.

Earlier, PTEA chairman Muhammad Ahmad welcomed Dr Ashfaq. He lauded the government’s effective measures to cope with the adverse impacts of COVID-19 pandemic; especially disbursement of outstanding refunds which significantly helped easing off the liquidity crisis and supported the export industry in prevailing turmoil situation. Appreciating the efforts made by the FBR for early disposal of refund claims, he said that the Faster Plus would help resolve the issues of refund blockage and facilitate the exporters. Considering establishment of LTO in Multan as sheer injustice with the third biggest and revenue generating city of Faisalabad, he demanded establishment of the LTO in Faisalabad.

PTEA patron-in-chief Khurram Mukhtar pointed out the core issues pertaining to the release of sales tax refunds within seventy-two hours, removal of irritants Faster system, issuance of ZRI certificates for reduced tariff of electricity, delay in income tax refunds and other issues.

He appreciated the constructive moves initiated by the FBR for expeditious payment of exporters’ refunds.

FDA RECOVERY OF DUES CAMPAIGN: The Faisalabad Development Authority management has intensified the recovery campaign to collect the outstanding dues from the allottees of the FDA City Housing Scheme.

Final notices were being issued to the defaulters for payment of arrears in this regard. In this connection, FDA Director General Muhammad Sohail Khawaja presided over a meeting to review the pace of recovery campaign. It was decided during the meeting that the allotment of plots would be cancelled in case of non-compliance of final notices by any defaulter (allottee) and no excuse would be entertain in this regard.

The Director General said that the chronic defaulters had lost their rights of allotment because they had been served notices for payment of outstanding dues many times during the previous days but they failed to make the payment of installments, development charges and other fees. He advised the defaulter allottees to deposit the dues against them immediately to keep themselves entitled as owner of the plots. Reviewing the overall outstanding balance of dues, the DG directed the officers concerned for taking serious and stern measures for ensuring maximum recovery of the arrears by setting monthly targets.

He hoped that the remaining development works, including electrification of entire blocks, could be carried out with the generation of funds by collecting arrears from the defaulters. He said that the development and promotion of the FDA City was on top priority because this mega project was very important and significant in housing sector.