ISLAMABAD: With the aim to transfer sales tax refund electronically from November 2016, the Federal Board of Revenue (FBR) has sought the bank account numbers of registered taxpayers.
The FBR has issued requests to the taxpayers for providing IBANs (International Bank Account Numbers) for direct electronic credit of sales tax refund.
Sources said that irrespective of quantum of refund amount, all payments would be made through the new system. It is a major facilitative measure which would expedite payment of pending refund claims. All electronic transfers would be made through the new system. It has been estimated that around 6,000 to 7,000 sales tax refund claimants would enjoy the facility of direct electronic credit of sales tax refund into their bank accounts, they added.
