FBR to pay refunds through CITRO
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This system would eliminate human interaction between tax authority and taxpayers: FBR
ISLAMABAD (APP) - The Federal Board of Revenue (FBR) has established a Centralized Income Tax Refund Office (CITRO) to facilitate taxpayers by releasing income tax refund payments directly into their bank accounts in an expeditious and transparent manner.
According to an FBR press statement issued here, Member IR (Operations) inaugurated the launch of CITRO by processing the 1st batch of Income Tax refund claims for payment through dedicated VPN tunnel established between FBR and State Bank of Pakistan.
“This is indeed another milestone achieved by the organization through incessant efforts of Member IR Operations and Member IT of FBR.
FBR establishes CITRO to facilitate taxpayers radio.gov.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from radio.gov.pk Daily Mail and Mail on Sunday newspapers.
FBR refunds Rs1bln to Sindh
Business
January 30, 2021
KARACHI: The Federal Board of Revenue (FBR) has refunded Rs1 billion to the Sindh government account that was recovered as an outstanding amount from the provincial excise and taxation department, sources said on Friday.
The FBR had issued a refund of Rs1 billion to the Excise and Taxation Department of the Sindh government and the amount had been directly credited to the Sindh government non-food account by the Centralized Income Tax Refund Office, FBR Headquarters, Islamabad, the sources said, adding that the amount was related to the tax year 2016.
The refund is part of the refundable amount of Rs5 billion determined by the revenue board on September 29, 2020, through an order under section 161 of the Income Tax Ordinance 2001 for the tax year 2016 after the earlier order was remanded back by the Appellate Tribunal Inland Revenue (ATIR) for de novo proceedings.
FBR Will Now Directly Transfer Refunds to Exporters Bank Accounts propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.