FBR rebuts news reports about non-credit of online refunds

Federal Board of Revenue (FBR) has rebutted a news report appearing in a section of the press claiming the online transfer of Rs 23 billion sales tax refund to the claimants/exporters had not been initiated despite lapse of 8 days after the announcement made in this respect by the Minister for Finance & Revenue in FBR on 8th August 2017. 

In a statement, FBR has clarified that a sum of Rs 23.858 billion was to be electronically transferred to the claimants/exporters in July and August 2017, as per commitment of Minister for Finance and Revenue as made in his budget speech. The SBP was requested to transfer the said amount on the date of ceremonies held in FBR i.e. 15th July 2017 and 8th August 2017. The State Bank of Pakistan, in both cases, confirmed the credit of amount of sales takes refund to the respective accounts on the next working day, except an amount of Rs 260 million which could not be duly credited for various reasons such as closure of account, inactive account, incorrect account number provided by the claimant etc. 

FBR has further said that it has not received any complaint from any of the claimants/exporters to whom payments were made regarding non-transfer of the refund amount.