ISLAMABAD; The Federal Board of Revenue (FBR) has informed the finance committee of the National Assembly on Tuesday that Rs5.5 billion refunds have been issued to the exporters on Monday.
The finance committee meeting presided over by its chairman Faiz Ullah was informed that during the ongoing month Rs9 billion refunds had been issued.
There are no refunds pending and payment of refunds in the current fiscal year was higher as compared to the previous year.
The FBR officials were responding to member National Assembly Ali Nawaz Awan who moved the issue as special member.
The FBR said that there were instruction from adviser on finance that up to Rs50 million income tax refunds would be cleared in the next two weeks and payment in this regard would be provided by the Finance Division. Chairman of the committee stated that on the issue of refunds, a technical committee had been constituted, and the FBR officials would also be part of it as the FBR senior official said that work on refunds was being expedited.
Copyright Business Recorder, 2020
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