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FBR to transfer tax refunds into accounts

FBR to transfer tax refunds into accounts

The Federal Board of Revenue (FBR) has stopped issuance of income tax refund cheques to the taxpayers and now the amounts would be directly credited into their bank accounts.

According to messages communicated by the FBR to the taxpayers, in order to ensure transparency and least human interaction of FBR’s employees with the taxpayers, it has been decided to stop the practice of issuance of refund cheques forthwith and directly credit the amount cheques of income tax refunds into the bank accounts of the taxpayers. For this purpose, IBAN bank Accounts of the taxpayers are needed to be updated in their IRIS profiles. FBR has enabled the IRIS profile for all taxpayers and therefore, you are requested to update IRIS profile with your IBAN Bank Account Number details, FBR added.