LAHORE: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has said that he has taken up the refund issues with the Ministry of Finance in order to disburse all refunds in one go to the businessmen.
He said this while talking to Customs Today exclusively on the sidelines of pre-budget seminar held at a local hotel.
“The actual amount of refunds is far lesser than that of the much talked about refund money. Bulk refund amount comes under the head of deferred refund. We have ordered our officers to nil the deferred refund amounts by February 2015, but the industry requested that it need more time. Eventually, the FBR extended the time period by March 31”, the FBR chairman said while accepting the fact that the non-payments of refunds were badly affecting the businessmen.
He said that after March 31 it will be made clear the actual amount of refund and whether or not the government is owed to the businessmen and industrialists with respect to the refund claims.
He on the other hand said that the board was giving far more amount than that of the inherited one during the last two years and not letting them pile-up which resulted in reduction of accumulative refunds.