- FBR has resumed issuing deferred sales tax refunds to exporters outside the five zero-rated sectors
- This is part of efforts to streamline the refund process and reduce delays
- FBR issued a circular directing tax offices to process refunds using the FASTER system
- Refund caps are set at 2%, 3%, 4%, 5%, and 8% based on export value and product classification
- A uniform upper capping policy is implemented with a maximum limit of 10% of export value or actual input tax used
- Field formations are instructed to revisit and reprocess previous refund claims and orders
- The initiative aims to restore exporters’ confidence and ensure compliance through improved governance mechanisms
Source: pkrevenue.com
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.
