FBR asks refund claimants to furnish requests for issuance of bonds

March 22, 2019: The Federal Board of Revenue (FBR) has asked the refund claimants, interested in getting their payments through refund bonds, to furnish their options at the board’s e-portal

According to FBR public notice, the board had inserted 67-A section in the Sales Tax Act 1990 in order to issue sales tax refund bonds and facilitate exporters and other businesses.

The bonds would be tradeable, Statutory Liquidity Requirement (SLR) eligible and would act as collateral for getting bank loans, it added.

The bonds would also carry simple profit of 10 percent per annum over three-year maturity period; it said adding that those refund claimants willing to get refund payment though bonds should furnish their options on FBR’s e-portal at e.fbr.gov.pk

According to the notice, “those who wish to be included in the first phase of the bond issuance may furnish their options by March 25, 2019,” it added.

(APP)