ISLAMABAD, Sept 9: The Central Board of Revenue (CBR) has paid Rs12.2 billion refund/rebate to exporters in first two months (July-August) of current financial year against Rs14.2 billion, it had paid to exporters during the same months last year, showing a fall of 14 per cent.
Official figures released by the CBR here on Tuesday showed that the payment of rebate to exporters under the head of customs duty declined by 41 per cent and sales
tax refunds registered no growth during the same months under review this year over the
corresponding months of last year.
Further break-up showed that the tax authorities paid out Rs9.2 billion sales tax refunds to exporters against Rs9.1 billion it paid to exporters during the same months last year, showing no tangible growth.
The tax authorities paid Rs3 billion rebate under the customs head to exporters during the same months this year against Rs5.1 billion it paid to exporters over the corresponding months of last year, showing a decline of 41.6 per cent.
The exporters are already asking the government to release their withheld refunds/rebate so that they could continue their businesses.
The tax authorities were of the opinion that the decline registered in the payment of rebate was due to the rationalization of duty drawback rates.
