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Tag Archives: sales tax refunds

FBR issues show-cause notices to 3,000 blacklisted companies

  KARACHI: The Federal Board of Revenue (FBR) has issued show-cause notices to 3,000 blacklisted companies for getting sales tax refunds on fake receipts. Regional Tax Office (RTO) sources said the FBR had decided to take action against such companies and they have been issued show- cause notices in this regard. Sources said the FBR has ordered the Inland Revenue ... Read More »

Sialkot Chief Commissioner IR assures exporters of early refunds

SIALKOT: Chief Commissioner Inland Revenue Sialkot Shahid Hussain Chatta has assured the Sialkot business community about early clearance of all the prolonged and pending sales tax refund claims, enabling the Sialkot exporters to work hard with full devotion, dedication and complete peace of mind for increasing the national exports and boosting the national economy. He made his assurance while addressing an important meeting of ... Read More »

Govt intends to slash tax rate: FTO takes up pending refunds issue with FBR chief

ISLAMABAD: Federal Tax Ombudsman Abdur Rauf Chaudhry said that the FTO was closely monitoring the income tax and sales tax refunds paid in 2013-14 and relevant data was being regularly obtained from the Large Taxpayer Units and Regional Tax Offices to clear the backlog at earliest. Responding queries, the FTO said that he was well aware of the investigation conducted ... Read More »

Rs3.8b refunded till date: Tariq Bajwa

Federal Board of Revenue has disbursed Rs 3.8 billion on account of sales tax refund during the period from July 2013 to April 2014 as against Rs 1.8 billion disbursed during the first ten months of previous fiscal year. This was revealed by FBR Chairman Tariq Bajwa while assuring the exporters to accelerate the refund system and forwarded necessary directions ... Read More »

LCCI, taxpayers brainstorm ST refund claims on Tuesday

LAHORE: The registered taxpayers and exporters will plead for the long-pending sales tax refunds issue with the sales tax refund committee of Lahore Chamber of Commerce and Industry (LCCI) at a meeting scheduled for Tuesday (today) at the chamber. As per details, the LCCI sales tax refund committee has also invited tax officials to discuss the issue of pending refunds ... Read More »

Mounting ST refunds stoking up industry’s worries

LAHORE: The pending sales tax refunds of few export companies have amounted to Rs1 billion in 2013-14 while the business community has reiterated its stance to raise voice for  early release of refunds at all forums including Federal Board of revenue (FBR). As per details, leading exporters have expressed their concern over the mounting refund claims on daily basis despite ... Read More »

KCCI welcomes refunding of ST by mid April

KARACHI: Karachi Chamber of Commerce and Industry President Abdullah Zaki has warmly welcomed the Federal Finance Ministry’s decision to settle refund claims of 26,000 cases by April 15, 2014 whose refund claims are less than Rs 1 million. Abdullah Zaki pointed out that a total of 36,000 cases pertaining to refund claims were lying pending at Federal Board of Revenue, of ... Read More »

ST refunds up to Rs1m to be cleared by mid April

ISLAMABAD: Federal Minister for Finance Ishaq Dar has directed Federal Board of Revenue to refund sales tax refunds up to Rs 500,000 in three weeks and up to Rs 1 million by April 15. Dar was addressing the Annual Chief Commissioners Conference while he announced payments of sales tax refunds to clear the backlog. He directed FBR for immediate payments ... Read More »