FBR recommends SBP to clear payment of Rs 7.23 billion as sales tax refunds
The payment will benefit 898 claimants involved in exports of textile, carpets, leather, etc.
(Web Desk/APP) – The Federal Board of Revenue (FBR) has recommended the State Bank of Pakistan (SBP) to ensure payment of sales tax refunds amounting to Rs7,236 million for facilitating the exports.
The payment will benefit 898 claimants involved in exports of textile, carpets, leather, sports goods, surgical instruments, rice, food items, machinery and other items, said a statement issued by the FBR on Saturday.
The refund has been paid against 2,637 refund payment orders issued on January 30, 2019, it added.
The refund payments would be transmitted electronically to the respective bank accounts of claimants by the SBP.
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 account number in IBAN format are requested to provide the details through their user ID on the FBR’s web portal.
Further, the FBR has been working to sort out certain issues being faced by the businesses on account of outstanding refunds and is working on a plan to pay remaining outstanding refund claims by issuing bonds after the passage of Finance Supplementary (Second Amendment) Bill, 2019, which is presently under approval of National Assembly, the press release added.
