ISLAMABAD: The federal government has suspended two tax officers for issuing multi-billion rupees prima facie genuine tax refund, which the Finance Minister himself had instructed to release aimed at removing a bottleneck in the way of $80 million Saudi investment in a Pakistani company. The development comes amid yet another decision of the government to … Read more
Foreign investors have urged the Federal Board of Revenue (FBR) to address the growing backlog of tax refund claims, which has surged to Rs108 billion. They argue that resolving these claims is essential for maintaining the confidence of current and prospective investors in Pakistan. The outstanding refunds involve income and sales taxes owed to foreign … Read more
The federal minister of finance Muhammad Aurangzeb announced late last month that the government had refunded almost Rs 68 billion to different sectors, as part of the tax refund program that began on July 1. He said this while addressing a press conference in Islamabad. It was elaborated that the program has not yet concluded … Read more
LAHORE: Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has announced that the tractor industry is on the brink of a complete shutdown due to prolonged delay in releasing general sales tax (GST) refunds by the Federal Board of Revenue (FBR) and the recent implementation of a new GST regime under Statutory Regulatory Order … Read more