FBR assures exporters of prompt refund release

Federal Board of Revenue (FBR) Member Inland Revenue (Operations) Dr Muhammad Ashfaq Ahmed has assured all exporters of Sialkot that sales tax and income tax refunds will be paid to them on a priority basis to overcome their financial crunch during the coronavirus-induced slowdown.

In a meeting with the business community in Sialkot on the invitation of the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), Ahmed stated that Sialkot was the hub of small and medium enterprises (SMEs) sector and the city needed working capital for smooth operations.

The member IR (operations) stressed that revival of the industry and growth in exports to maximise employment generation was in line with the vision of Prime Minister Imran Khan and assured the exporters of his complete support.

Ahmed reiterated the resolve of the government for expeditious release of tax refunds in a transparent manner and removal of all irritants in that regard. “Release of refund claims has been expedited and it will be ensured that all sales tax refunds are paid within a time span of 72 hours.”

He emphasised that all the issues relating to Annexure-H would be addressed within a week, which would facilitate exporters in filling the claims.

The business community welcomed the revenue board’s open-door policy as everyone could approach the member IR (operations) without any restriction and prior appointment, which was encouraging for the businessmen.

PRGMEA Chairman Sohail A Sheikh and Chief Coordinator Ijaz Khokhar appreciated the PM’s vision and policies for enhancing the volume of exports.

During the meeting, they highlighted the challenges faced by the business community including the mechanism for refund of sales tax on services and the transfer of jurisdiction in various cases to Large Taxpayer Units (LTUs), and the same were addressed by the FBR member.

They appreciated the release of tax refunds and releases under the Drawback of Local Taxes and Levies (DLTL) scheme at a critical time when Covid-19 had shaken the entire world.

Published in The Express Tribune, August 25^th, 2020.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.