ISLAMABAD: Federal Board of Revenue paid 37.6 per cent less refunds of Rs 71.883 billion during fiscal year 2015-16 as it paid Rs 115.216 billion refunds in 2014-15.
According to the data compiled by the FBR, 56 percent decrease has been witnessed in payment of direct taxes refunds in 2015-16 against same period last year. Sales tax refunds were reduced by 25 percent during this period. 100 percent decrease has been witnessed in refund payments of federal excise duty whereas customs rebate increased by 31.9 percent in 2015-16 when compared with last fiscal. The report said that 37.6% lesser refunds have been paid during fiscal year 2015-16as compared to the corresponding period last year.
