FBR releases sales tax refunds worth Rs8.74bn to export sector
(WorldNews Pakistan)

KARACHI: The Federal Board of Revenue (FBR) on Saturday said it had released sales tax refunds amounting Rs8.74 billion against the claims it received from export-oriented sectors. “The FBR has issued an advice to the State Bank of Pakistan for making the payment of sales tax refunds to facilitate the exports,” a statement by the tax authority said. The FBR has not issued any sales tax refunds during the current fiscal year, creating liquidity problems for the exporters. However, the revenue body issued the refunds after the meeting of Finance Minister Asad Umar with the members of Overseas Investors Chambers of Commerce and Industry (OICCI). It must be mentioned that OICCI...