FAISALABAD: The member IR (operations) Federal Board of Revenue 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. Faster Plus will resolve the issues of refunds blockage.
Addressing textile exporters at Pakistan Textile Exporters Association on Saturday, he said that new upgraded system will ensure that all refund claims which are filed are processed and no refund claim will be stuck up at pre-processing stage. Highlighting the core developments, he said that a new dashboard has 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 has been made part of FASTER Plus System.
Responding to the issues raised by textile exporters linked with sales tax refund processing, member IR operations informed that payment of pending income tax refunds beyond Rs. 50 million will be started soon as FBR is 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 have already been forwarded to the concerned circles.
Answering a question, he said that commercial exporters are very important part of economy and in order to streamline their refund payment, FBR is working with SBP. He reiterated that Government is fully committed to expedite growth of commerce to maximum possible level by using all available means.
Earlier, PTEA Chairman Muhammad Ahmad welcomed the Member IR Operations. He lauded Government's effective measures to cope with the adverse impacts of COVID-19 pandemic; especially disbursement of outstanding refunds which significantly helped in easing off the liquidity crisis and supported the export industry in prevailing turmoil situation. Appreciating the efforts made by FBR for early disposal of refund claims, he said that Faster Plus will 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 LTO in Faisalabad.
PTEA's 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 FBR for expeditious payment of exporters' refunds. A large number of textile exporters were present at the occasion.-PR
Copyright Business Recorder, 2020