FBR Issues Rs20bn Sales Tax Refund Claims to Exporters, Meeting IMF Requirements

• FBR issues Rs20 billion in sales tax refund claims to exporters
• Exporters have faced liquidity crunch due to stuck up refunds
• There is a concern about fake/flying invoices amounting to Rs3,000 billion
• FBR has been meeting IMF requirements for revenue collection and refunds
• FBR cleared Rs65 billion in pending refunds and another Rs20 billion recently
• FBR met March 2024 revenue target of Rs879 billion
• FBR needs to collect Rs2,705 billion in the last quarter to achieve annual target of Rs9,415 billion by June 30, 2024
• IMF and FBR have readjusted monthly targets for the last quarter, with a focus on June 2024 revenue collection.

Source: thenews.com.pk

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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