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Despite Hurdles, FBR Issues Refunds of RS 250 Billion

Lahore: According to FBR Inland Revenue (Operations) Member Dr. Muhammad Ashfaq Ahmad, the Federal Board of Revenue (FBR) has settled unprecedented refund claims of Rs 250 billion during this year, despite some minor system-related inconsistencies.

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He advised every person to file their tax returns during a meeting with the business community at the Faisalabad Chamber of Commerce and Industry (FCCI).

He addressed the notices sent to the IT industry by explaining that it is the constitutional and legal duty of tax collectors to inquire about the taxable money and that this should not be considered harassment.

Ahmad stated that although exports of IT are free, exporters are still have to file declarations before they can take use of the exemption.

In order to separate tax evaders from law-abiding individuals and punish them in a way that serves as a deterrence, he asked the trade bodies to assist FBR in further improving the tax system.

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Ahmad continued, “Smuggling over the borders of Iran and Afghanistan has been abolished, but the revenue board still faces a problem with the declaration of miss-invoicing.”

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