December 28, 2008	Sunday	Zilhaj 29, 1429

KARACHI, Dec 27: The Federal Board of Revenue said on Saturday it had paid Rs15.45 billion in duty drawback and sales tax refunds to exporters during the first five months of the current fiscal year, whereas the amount for the corresponding period last year was Rs14.36 billion.

In a clarification to a story published in Dawn on Dec 24 about holding back of duty drawback and sales tax refunds to exporters, the FBR said the inputs used in five major export-oriented sectors had already been “zero rated” for calculation of sales tax.

“Refunds relating to exporters in these sectors have also declined accordingly.”

According to the statement, the FBR’s measure of universal e-filing of sales tax returns will improve the processing of refund claims.

“The board is already in the process of devising an automated system for expeditious disposal of refund claims pertaining to the packing material used in exports by zero rated sectors.”