ISLAMABAD, July 1: The Central Board of Revenue paid out Rs66 billion refund/rebate to exporters during the financial year 2003-04 against Rs60.732 billion it paid during the same period last fiscal year, showing an increase of 8.67 per cent.

Official figures released by the CBR here on Thursday showed that the payment of sales tax refunds registered a growth of 18.35 per cent during the outgoing fiscal year over the same period last year.

However, the payment of customs rebate declined by 16.65 per cent during the period under review over the same period last year. Further break-up showed that the tax authorities paid out Rs52 billion sales tax refund to the exporters during the July-June 2003-04 period against Rs43.934 billion during the same period a year ago, showing an increase of 18.35 per cent.

On monthly basis, the sales tax refund during June 2004 stood at Rs2.4 billion against Rs1.861 billion in the same month last year, showing an increase of 28.9 per cent.

And the customs rebate declined by 16.65 per cent to Rs14 billion during the period under review against Rs16.798 billion during the same period last year. On monthly basis, Rs1.5 billion rebate was paid to the exporters during June 2004 against Rs4.298 billion during the same month last year, showing a decline of 65 per cent.