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The Federal Board of Revenue (FBR) paid sales tax refunds of Rs 103 billion to exporters during July-December (2019-20) against Rs 36 billion paid during the same period of 2018-19, reflecting an increase of Rs 67 billion

As per Business Recorder reported, FBR Member Inland Revenue (Policy) Dr Hamid Ateeq Sarwar informed that the FBR has given three times more sales tax refunds during the first half of 2019-20 against the same period of last fiscal year.

According to the Authorities Rs 49 billion refund have been filed by the exporters in their tax returns during the period under review. The sales tax refund claims with Annexure-H (stock statement) of the sales tax return have been filed to the tune of Rs 19 billion. Around Rs 15 billion of refunds have been issued which were claimed under Annexure-H of the sales tax return. The remaining claims would also be processed after exporters file stock statements.

Tax authorities rejected exporters' claim that refunds of Rs 100 billion to Rs 200 billion are pending with the FBR.

Earlier, Chairman FBR told the Adviser that FBR had registered 16.3 per cent revenue growth by collecting Rs 2,083.2 billion as per provisional figures for the period between July-December 2019, netting Rs 292.3 billion more than the revenue collected during the corresponding period last year.