AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,957 Increased By 115.5 (1.17%)
BR30 30,770 Increased By 733.6 (2.44%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

Due to the taxpayers'' manipulation of sales tax refunds documents the Collectorate of Sales Tax Refunds has stopped sales tax refund claims amounting to Rs 39.36 billion. Official sources told Business Recorder on Monday that a huge number of sales tax refund claims have been lying pending for years due to manipulation in documents of refund claims filed by the taxpayers.
They said that refund claims were either intentionally or unwittingly being manipulated by taxpayers, hence claims were not considered as valid in computerised sales tax process and declared as invalid since correction would be made by claimants.
Sources said that a high incidence of manipulation detected in suppliers'' invoices attached to claimants refund documents caused to create problems in clearance of sales tax refund claims besides generating excessive burden on concerned taxmen.
They apprised that around Rs 18.45 billion has been debited on account of fresh sales tax refund claims during the current fiscal year, while about Rs 20.91 billion has been stuck up for past several years where the clearance process was being underway and it would be paid soon.
"Viewing the problems of taxpayers, the Federal Board of Revenue (FBR) has established Fast Track Counter (FTC) to check the position of refund claims on almost every processing level aimed to facilitate claimants, besides informing them about hurdles in their sales tax refund claims," sources added.
Moreover, they cited the board had also declared a large number of export items as ''Zero-rating'', besides accepting sales tax refund claims only on non-traditional items with the view to facilitating taxpayers to enhance their business circle and generate foreign exchange, they said.
However, taxpayers said that due to recurrently changes in taxation and refund claim procedure created problems in filing sales tax refund documents. They said the board should eliminate errors in Starr and Custom Care System software, which would help to extend the circle of exports besides providing opportunity to taxpayers for enjoying flawless computerised taxation set-up.

Copyright Business Recorder, 2008

Comments

Comments are closed.