December 4, 2003	Thursday	Shawwal 9, 1424

ISLAMABAD, Dec 3: The tax authorities have paid out Rs26.03 billion refund/rebate to exporters during the first five months of the current financial year against Rs27.632 billion it had paid during the same period of last year, showing a decline of 5.79 per cent.

Official figures released by the Central Board of Revenue here on Wednesday showed that the payment of sales tax refunds registered a growth of 8.32 per cent during the period under review, over the same period of last year.

However, payment of customs rebate to the exporters during the July-Nov period of the current financial year declined by 33.6 per cent over the same period of last year.

Further break-up showed that the tax authorities have paid Rs19.77 billion as sales tax refunds to the exporters during the July-Nov period against Rs18.25 billion paid during the same period of last year, showing an increase of 8.32 per cent.

The tax authorities paid out Rs6.26 billion as customs rebate to the exporters during the period under review against Rs9.44 billion paid during the same period of last year, showing a decline of 33.6 per cent.

According to the statistics, during November 2003 the CBR paid out Rs4.332 billion refunds/rebate to the exporters against Rs4.395 billion during the same month last year, showing an increase of 1.43 per cent.

An official source at the CBR said that the increase in the payment of sales tax refund to the exporters was due to increase registered in the sales tax collection during the same month this year. While the decrease in the payment of customs rebate was due to rationalization of duty drawback rates during the last year budget, he added.