ISLAMABAD: In order to facilitate businesses, particularly exporters, and resolve the problem of long outstanding refunds, it was decided by the government to issue sales tax refund bonds to the claimants. FBR made necessary arrangements for issuance of bonds through Central Depository Company (CDC). Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh transmitted the advice for issuance of bonds to CDC system in a simple ceremony held at the Ministry of Finance today.
The bonds amounting to Rs7 billion are being issued in the first tranche. This issuance shall benefit 90 claimants. The bonds have been issued to claimants who had opened their account with CDC. The Advisor informed that FBR is planning another issuance in the month of June, 2019. He advised the claimants to exercise their option for issuance of bonds and provide their CDC accounts to FBR so that They can be accommodated in the next issuance.
The ceremony was attended by Minister of State for Revenue, .Muhammad Hammad Azhar, Secretary Finance, Naveed Kamran Baloch, Chairman, FBR, . Shabbar Zaidi and senior officials of FBR.
