April 14, 2020: The Federal Board of Revenue (FBR) Tuesday asked the taxpayers to update their Institutional Research Information System (IRIS) profile and provide an international bank account number (IBAN) for electronic transfer of refunds.

                According to an FBR press release, the Board had devised a centralized system of online payment of Sales Tax, Federal Excise Duty and Income Tax refunds directly in the bank accounts of taxpayers and for that purpose, it had requested the taxpayers to update their IRIS profile.

In the given bank account details were in the system while IBAN details row was added wherein taxpayers were required to add their complete IBAN number of the same bank account whose details were already available in the IRIS profile to receive Sales Tax, FED and Income Tax refund cheques, it added.

                The FBR advised the taxpayers to do the needful as soon as possible to avail the electronic transfer facility.

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