The Federal Board of Revenue (FBR) has released sales tax refunds of Rs 8.
741 billion to some 739 claimants from five export-oriented zero-rated sectors such as textiles, carpets, leather, sports goods and surgical instruments.
According to an FBR press statement, the Bureau had issued an advice to the State Bank of Pakistan for making the payment of refunds to the exporters against 4,117 refund payment orders issued up to November 8, 2018.
The statement also added that the refund payments would be transmitted electronically to the respective bank accounts of the claimants by the SBP by the close of banking hours on Monday, November 12.
It further added that the FBR said the payments had been made to all those claimants of the aforesaid categories, who had provided their bank account details in IBAN format. Those refund claimants, who had not provided account number in the IBAN format, should provide the same through their user ID on FBR‘s web portal.
The statement said the FBR was conscious of the problems being faced by the businesses on account of outstanding refunds and was working on a plan to pay the remaining outstanding refund claims at the earliest.
