ISLAMABAD: The Federal Board of Revenue (FBR) has decided to use the latest technology for payment of sales tax refunds and announced to implement electronic transfer system from October this year, through which the refunds would be transferred into the taxpayer’s bank accounts.
With the aim to help taxpayers, the FBR, State Bank of Pakistan (SBP) and Pakistan Revenue Automation Limited (PRAL) are jointly working for implementation of the system.
All arrangements have been finalised to ensure smooth installation of the system by end September, so that transfers of refunds could be made through the new system in October, 2016. Finance Minister Ishaq Dar has already issued directives to make arrangements for electronic transfer of sales tax refunds to the beneficiaries, before October 15, 2016.
