FBR requests taxpayers to provide IBAN for transfer of refunds

The Federal Board of Revenue has requested taxpayers to provide IBAN for electronic transfer of refunds.

According to FBR, it has devised a centralized system of online payment of sales tax, FED and income tax refunds directly in the bank account of the taxpayers. For this purpose, it has requested the taxpayers to update their IRIS profile. Likewise, the FBR has also required from the exporters to update their WEBOC profile and provide IBAN of the same bank account whose details are already available in the profile to receive Custom Duty Drawback.