ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has directed the Federal Board of Revenue to take input and suggestions from the textile exporters and simplify the H-form within a week so that the process for the payment of sales tax refunds could be expedited.
He gave the instruction during a meeting with the office-bearers and members of All Pakistan Textile Mills Association (APTMA) on Tuesday. Adviser to PM on Institutional Reforms & Austerity Dr Ishrat Hussain, Adviser on Commerce Abdul Razak Dawood, Task Force on Textile Chairman Ali Habib, FBR Chairman Syed Shabbar Zaidi, former finance minister Shaukat Tareen and Finance Secretary Naveed Kamran Baloch were also present on the occasion.
Dr Abdul Hafeez Shaikh told the exporters that the government was not at all interested in keeping their money and that the government was willing to listen to and accommodate any solution or recommendations from the exporters to simplify the H-Form and ensure prompt payments of sales tax refunds to them.
He directed the FBR to expedite the payment of nearly Rs10 billion worth of customs duty drawback to the exporters.
FBR Chairman Shabbar Zaidi told the meeting that the revenue board has so far received claims for sales tax refunds to the tune of Rs10.14 billion for the period from July to October 2019, adding that cases amounting to Rs8.02 billion have already been processed for payment.
“As many as 1,604 cases have been accepted for payment which would be made at the earliest,” he stated.
Earlier, the APTMA leaders and members informed the finance adviser they were happy and satisfied with the documentation drive of the government and wanted to process their claims for sales tax refunds through the newly introduced Form-H.
They said that they have formulated their recommendations to further simplify the Form-H in view of certain problems being faced by them in filling out the form.
Hopefully, this refund will be in the form of cash not sales tax refund bonds with maturity period of 3 years at 10% interest which is well below market level.
The Honorable Chairman Task Force on payment Textile Mr. Ali Habib Suggest the Honorable Textile Force on Payment should be provided’ On-Line on simple form be considered.