New system for tax refunds
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday announced to devise a transparent centralised system for issuance of income tax, sales tax and duty drawback refunds to taxpayers in an expeditious manner.
FBR Official Spokesperson Dr Hamid Ateeq Sarwar told Dawn that the FBR has released about Rs25 billion refunds in March.
“We have almost finalised to issue Rs70bn refunds in the next few days,” he said.
Deadline extended: The FBR has further extended the last date for payment of sales tax and federal excise tax to facilitate businessmen amid fear of coronavirus.
The date for filing of returns was extended for the period of February.
The payment date was further extended to April 12, 2020 from Mar 31.
The submission of sales tax and FED returns had already been extended to April 15.
Published in Dawn, April 1st, 2020