ISLAMABAD: The Federal Board of Revenue has enabled refund adjustment tab in the income tax return form.

According to an announcement of the FBR here on Tuesday, the FBR has received a number of representations from various tax bars, businesses and other stakeholders on the issue of non-availability of refund adjustment tab in the return forms available in the IRIS, an online portal of FBR for return filing.

In order to ensure smooth filing of returns and to improve ease of doing business and decrease cost of compliance of taxpayers, the Federal Board of Revenue (FBR) has enabled refund adjustment tab in the return forms. This facility will enable taxpayers to adjust their pending refund claims against admitted liability of TY 2022 at the time of filing of tax returns who had filed applications to claim their outstanding refunds of previous years.

In this regard it is informed that refunds applications filed up to 27.09.2022 are eligible for adjustment of refunds. This facility is available to all taxpayers who have not claimed excess adjustment against previous years’ refunds, the FBR added.

Copyright Business Recorder, 2022