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Despite hurdles, FBR issues refunds of Rs250b


LAHORE:

Despite some minor system-related discrepancies, the Federal Board of Revenue (FBR) has paid unprecedented refund claims worth Rs250 billion during this year, claimed FBR Inland Revenue (Operations) Member Dr Muhammad Ashfaq Ahmad.

During a meeting with the business community at the Faisalabad Chamber of Commerce and Industry (FCCI), he urged every citizen to file their tax returns.

Shedding light on the issuance of notices to the IT sector, he clarified that it is the constitutional and legal responsibility of tax collectors to ask about the taxable money and it should not be dubbed as harassment.

Ahmad mentioned that IT exports are exempted but at the same time, exporters are bound to file declaration and upon declaration, they could enjoy exemption.

Regarding additional taxes, the official said that it is a serious issue and the board is pondering on its impacts on the overall economy. “FBR will try to give maximum relief to the concerned persons, if it is deemed possible within the system,” he assured.

He added that FBR is trying its best to ensure speedy payment of refund claims. “However, it is our well defined policy to pay refunds without any unnecessary delay and if any discrepancy is identified in a later phase, responsible elements would be penalised in accordance with the law.”

He requested the trade bodies to help FBR further improve the tax system so that tax evaders could be segregated from law-abiding citizens and given deterrent punishment. Ahmad added that smuggling through Iran and Afghanistan borders has been eliminated but the real issue confronted by the revenue board is the declaration of miss-invoicing.

Published in The Express Tribune, June 6th, 2021.

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