LAHORE: The Federal Board of Revenue (FBR) on Tuesday assured textile exporters of expeditious payment of outstanding refund claims by removing bottlenecks.

Member Inland Revenue, Dr Mohammad Irshad, said that the authority would strive to facilitate exporters who are major stakeholders in precious foreign exchange earning.

Speaking to textile exporters at the Pakistan Textile Exporters Association office, Irshad said the FBR was fully committed to solve financial issues of exporters, and instructed the regional authorities for speedy disposal of all deferred claims and expeditious processing of refund claims under Section 66.

Irshad further informed that capping of upper limit of tax refund in the Expeditious Refund System (ERS) had been increased from 3.5per cent to 4pc.

On the issue of notices by the Punjab Revenue Authority, he informed that a meeting of all provincial revenue authorities with the FBR will be held on Dec 17 and the matter would be resolved amicably.

PTEA Chairman Asghar Ali spoke about the hurdles faced by textile exporters in refund regime.

Published in Dawn, December 9th, 2015