The newly upgraded Fully Automated Sales Tax e-Refund (FASTER) Plus system is quick and transparent and now there is no need for zero-rating regime on sales tax for exporters, said Federal Board of Revenue (FBR) Inland Revenue (Operations) Member Dr Muhammad Ashfaq.
FBR plans orientation programme
January 19, 2021
KARACHI: A technical committee of the Federal Board of Revenue (FBR) has planned an orientation programme for the manufacturers and exporters in filing their stock position for speedy clearance of the sales tax refunds.
The committee is organising a workshop/webinar for the orientation of the SME manufacturers-cum-exporters and commercial exporters and tax consultants regarding FASTER and procedure of filing Annexure–H on Wednesday January 20, 2021, according to a notification issued on Monday. The filing of Annexure–H is related to declaring the stock position through monthly sales tax returns. The taxpayers are facing difficulties in claiming refunds under the Fully Automated Sales Tax e-Refunds (FASTER) due to the problems in filing Annexure-H.
The phenomenon of fake and flying sales tax invoices has re-emerged on a massive scale across the country, forcing the Federal Board of Revenue (FBR) to
The Federal Board of Revenue (FBR) on Wednesday conceded that its signature Fully Automated Sales Tax e-Refund System (FASTER) was inherently problematic. APP/File
ISLAMABAD: After years of the government having projected automated tax refunds as success story, the Federal Board of Revenue (FBR) on Wednesday conceded that its signature Fully Automated Sales Tax e-Refund System (FASTER) was inherently problematic.
The admission of fault has come about even though the exporters, particularly the textile exporters, had been agitating almost at every level of the government and parliamentary committees that 25-30 per cent of their refund claims remained unattended and thus unpaid.