Home Business FBR issues Rs 8.741bn sales tax refunds to 739 claimants from export-oriented...

FBR issues Rs 8.741bn sales tax refunds to 739 claimants from export-oriented sectors

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ISLAMABAD: The Federal Board of Revenue (FBR) has released sales tax refunds of Rs 8.741 billion to 739 claimants from five export-oriented zero-rated sectors such as textiles, carpets, leather, sports goods and surgical instruments.

“The payment will benefit 739 claimants from five export-oriented zero-rated sectors including textiles, carpets, leather, sports goods and surgical instruments,” according to the FBR. “The refund has been paid against 4,117 refund payment orders issued up to November 8, 2018.”

The refund payments shall be transmitted electronically to the respective bank accounts of claimants by the State Bank of Pakistan by the close of banking hours on tomorrow (Monday).

“The payments have been made to all those claimants of the aforesaid categories who had provided their bank account details in IBAN format. Those refund claimants who have not provided the account number in IBAN format are requested to provide the same through their user ID on the FBR’s web portal,” according to the FBR statement.

Further, the FBR said that it is conscious of the problems being faced by the businesses on account of outstanding refunds and is working on a plan to pay the remaining outstanding refund claims at the earliest.