Refunds of Rs1 mln against 6,853 RPOs to be made within two days

APP45-15 ISLAMABAD: July 15 – Outgoing Governor SBP Ashraf Mahmood Wathra in a farewell meeting with Finance Minister, Senator Mohammad Ishaq Dar. APP

ISLAMABAD, July 15 (APP): The Federal Board of Revenue (FBR), during next two working days, would clear refund claims of Rs 1 million by making payments against 6,853 Refund Pay Orders (RPOs) issued by 30th April 2017.
The Minister for Finance and Revenue, Senator Mohammad Ishaq Dar visited FBR headquarters Saturday and presided over a ceremony of payment of sales tax refunds.
The next part of refund commitment would be fulfilled by making payment against RPOs with amount more than Rs. 1 million by August 14, 2017.
The Minister in the budget speech for the year 2017-18 had announced that taxpayers’ long outstanding demand for payment of refunds would be addressed soon and the sales tax refunds against refund payment orders (RPOs) issued up to 30th April, 2017, would be paid in two stages.
Initially, payments against RPOs involving amount up to Rs. 1 million were to be paid by July 15, 2017; and in the second stage refund against RPOs of amount more than Rs. 1 million would be paid by August 14, 2017.
Speaking on the occasion, the Finance Minister welcomed the new Chairman FBR Tariq Mahmood Pasha and expressed hope that he and his team would strive to overcome the challenges and make all efforts to achieve the target for the new financial year and simultaneously accord due priority to facilitation of taxpayers.
The Finance Minister stated that the government was conscious of the problems being faced by the taxpayers and was taking many steps to resolve these problems.
He stated that the ceremony was part of such measures and through this first part of the commitment made in the budget speech was being fulfilled.
The Finance Minister informed that for the first time refund payments were made through direct electronic transfer to claimants’ bank accounts through state Bank in November 2016.
This measure, he said, is aimed at enhancing transparency and facilitation and reducing contact between tax collectors and the taxpayers.
Later, the Finance Minister pressed the button of FBR’s Computerized System to remit the bank advice to the State Bank for transfer of the amount involved.