November 29, 2021

Rs 15.6 Billion Sales Tax Refunded To Exporters Thorugh Faster System

On Wednesday 11th of September 2019, the Finance Minister Dr. Hafeez Sheikh said in his tweet that the FBR has returned Rs15.6 billion in sales tax returns against 8,415 Refund Payment orders. FBR had launched the online FASTER sales tax return system, through which sales tax claimants could file their claims and the system analyses the claims and forwards the payments to the State Bank for clearance. The FBR has requested the export sector to use the online portal for filing their sales tax claims through the Annex-H form at the earliest so their lams can be processed and refunded.

 Dr. Abdul Hafeez has said that the system will enhance the liquidity of the businesses and hence improve the economic condition of the country.

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