ISLAMABAD
Federal Board of Revenue (FBR) has denied reports which claimed that the online transfer of Rs 23 billion sales tax refund to the exporters had not been initiated despite the lapse of eight days after the announcement was made by the finance minister on August 8, 2017.
An FBR spokesman has clarified that a sum of Rs 23.8 billion was to be electronically transferred to the claimants in July and August 2017, as per commitment of finance minister 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 July 15 and August 8, 2017.
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 Rs 260 million which could not be duly credited for various reasons such as the closure of account, inactive account, and incorrect account number provided by the claimant.
FBR claimed that it has not received any complaint from any of the exporters to whom payments were made, regarding non-transfer of the refund amount.
