Disappointment over failure of Pak FASTER refund system

09 Jan '20
1 min read
Pic: Shutterstock
Pic: Shutterstock

The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) recently expressed his disappointment over the performance of the Federal Board of Revenue's newly-launched Fully Automated Sales Tax e-Refund (FASTER) system as the commitment of the government to release exporters' refunds within 72 hours is yet to be fulfilled.

PRGMEA chairman Chairman Sohail Sheikh urged Prime Minister Imran Khan to immediately implement his directives as exporters are facing a severe liquidity crunch due to delay in payment of sales tax refunds despite the launch of the new system, according to Pakistani media reports.

Timely payment of refund claims is still a major issue and needs resolution on high priority, he said. Despite the FBR commitment that sales tax refunds will be paid within 72 hours of submission of claims, billions of rupees of exporters are stuck on account of sales tax refunds, he said.

Initially, exporters faced lots of hardship in filing their sales tax returns for getting refund as the FASTER system never worked because of flaws in ‘annexure H’ of the system, he added.

Fibre2Fashion News Desk (DS)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,

Recommended

Advanced Search