Wednesday, September 18th, 2019
Home »Top Stories » May 30, 2018 to September 6, 2019: FBR clears around Rs 22 billion ST refunds
The Federal Board of Revenue (FBR) on Wednesday cleared around Rs 22 billion sales tax refunds against 8,415 Refund Payment Orders (RPOs), through bonds and tax adjustments for the period from May 30, 2018 to September 6, 2019.

It is learnt that the cleared refunds were related to exporters as well as non exporters', but, the major chunk was cleared for non-exporters by the FBR on Wednesday.

The FBR has written to its field formation to reconcile stuck up claims of refunds of all taxes especially sales tax and income tax, sources said.

In a tweet by Advisor to Prime Minister on Finance and Revenues Dr Abdul Hafeez Shaikh stated on Wednesday that the government (FBR) cleared Rs 15.6 billion today in sales tax refunds against 8,415 Refund Payment Orders (RPOs) to enhance the liquidity of business & economic activity in the country.

This is on top of Rs 5.4 billion refunds cleared as bonds and adjustments, tweet added.

Copyright Business Recorder, 2019

the author

Sohail Sarfraz is the Chief Reporter in Islamabad. He has been with the paper for over a decade and his contributions to reports on tax related matters as well as Securities and Exchange Commission of Pakistan are recognized and appreciated not only by his readers but also by his colleagues in other media outlets.