Government to settle Rs82bn tax refunds to resolve cashflow issues of businessmen

ISLAMABAD: The government on Thursday vowed to settle at least Rs82 billion worth of sales and income tax refunds in a week to resolve liquidity crunch and cash flow issues of trade and industry aggravated by the coronavirus lockdown, local media reported. Adviser to the Prime Minister on Finance and… Continue reading

KCCI criticises FBR’s new sales tax refund module FASTER

KARACHI: Karachi Chamber of Commerce & Industry (KCCI) has criticised poor performance of the recently launched Fully Automated Sales Tax e-Refunds (FASTER) module. President KCCI Agha Shahab Ahmed Khan stated that FBR had claimed to processing payments of Sales Tax Refunds for the tax period July 2019 within 72 hours… Continue reading

Asad orders FBR to improve refund system for early processing of exporters’ claims

ISLAMABAD: Finance Minister Asad Umar has advised Federal Board of Revenue (FBR) to review and improve the Expeditious Refund System (ERS) parameters to ensure early processing of exporters’ claims. He said that the procedure for processing of DLTL claims was also being revised to ensure that the delays are eliminated…. Continue reading

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