The Federal Board of Revenue (FBR) said that on November 1, 2024, it will disburse Rs 32 billion in pending sale tax refunds to exporters.
This move comes after the Chairman FBR directed the speedy processing of refund payment orders up to September 30, 2024, according to an FBR statement issued here.
On the other hand, the government has fallen short of its four-month tax collection target by Rs190 billion, despite implementing unprecedentedly high taxes this year.
The FBR collected Rs3.440 trillion against a target of Rs3.632 trillion, revealing a gap that may lead to either revising the target or introducing a mini-budget to address the shortfall.
This shortfall emerged despite the total tax collections being Rs688 billion higher than the previous fiscal year, primarily boosted by substantial income tax payments.
