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FBR rebuts news reports about non-credit of online refunds

FBR rebuts news reports about non-credit of online refunds

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday rebutted a news report appearing in a section of the press claiming the online transfer of Rs23 billion sales tax refund to the claimants/exporters had not been initiated despite lapse of eight days after the announcement.

The announcement for refunds was made by Finance Minister, Mohammad Ishaq Dar on August 8, 2017, a press statement issued by the board here said. The board clarified that a sum of Rs23.858 billion was to be electronically transferred to the claimants/exporters in July and August 2017, as per commitment of minister for finance and revenue as made in his budget speech.The State Bank of Pakistan (SBP) was requested to transfer the said amount on the date of ceremonies held in FBR i.e. July 15, and August 8, it added.

The SBP, in both cases, confirmed the credit of amount of sales takes refund to the respective accounts on the next working day, except an amount of Rs260 million which could not be duly credited for various reasons such as closure of account, inactive account, incorrect account number provided by the claimant etc.FBR further said it had not received any complaint from any of the claimants/exporters to whom payments were made regarding non-transfer of the refund amount.