FBR releases sales, income tax refunds worth Rs23.7bn

The government has released sales tax refund of Rs22 billion and income tax refund of Rs1.7 billion, Federal Board of Revenue (FBR) revealed in a statement issued on Tuesday.

“In order to provide liquidity support to the business and to promote economic activities in the country, the government has decided to issue verified sales tax refund of Rs22 billion for all years,” the FBR stated. “Further, verified income tax refund of Rs1.7 billion (every case up to Rs100,000) has also been released for the taxpayers.”

The verification process for the remaining outstanding refunds is being expedited vigorously, the statement read, adding that the government plans to issue the outstanding verified refunds between Rs100,000 to Rs500,000 for all the years in the next month.

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