ISLAMABAD: Federal Board of Revenue (FBR) officials on Thursday said that the tax refunds of over Rs3 billion have been made during the month of February 2020.
The FBR officials said this while briefing the members of the National Assembly (NA) standing committee on Finance on tax refund matters.
“These are the refunds from the month of December,” they said adding that overall they had made refunds of upto Rs 29 billion as compared to Rs 39 billion refund claims received to the taxation body via form-H during the past year.
The delay made in the claims is due to the errors in the claims made by the concerned people or business entities, the officials said and added that the textile sector is getting refunds on continuous basis.
The standing committee chairman Qaiser Shaikh raised questions over the refunds’ claim made by the officials and asked as to why they had not received the same sentiment of the market on the refund matter as claimed by the officials.
In October 2019, Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh announced that textile exporters can claim their pending sales tax refund for July-August through the employment related scrutiny (ERS) within two weeks.
In a tweet, Shaikh said that the textile exporters can use the ERS system while the H-Form is reviewed or till an alternative system develops.
The adviser also said, “Refunds of Rs 2 billion outstanding against already issued RPOs [Refund Payment Orders] to be cleared immediately.”