KARACHI: Chairman FBR Rashid Mahmood Langrial and his team held a meeting on Wednesday at the headquarters of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) with a team of senior officials led by Senior Vice President FPCCI Saquib Fayyaz Magoon.
In the meeting, FBR announced a major relief package for traders. According to details, FBR has taken an important decision to pay Rs. 83 billion in refunds and Rs. 43 billion in rebates. The total amount is Rs. 126 billion, which will be paid to exporters and traders.
Chairman FBR Rashid Mahmood Langrial said that the issue of pending refunds was a long-standing demand of the business community and FBR is committed to resolving it. He also assured that the discrimination between industrial and commercial importers will be ended.
The business community had complained that commercial importers were facing higher duties and delays compared to industrial importers. FPCCI Senior Vice President Saquib Fayyaz Magoon welcomed the decision and said this step will improve liquidity for businesses and boost exports.
He said timely payment of refunds and rebates will help traders to manage their cash flow and reduce financial pressure, especially at a time when businesses are already facing high electricity bills and fuel costs.
It is to be mentioned here that earlier than this, the Federal Board of Revenue (FBR) introduced a facilitation for small shopkeepers under its special tax scheme, making the filing process simpler and more accessible.
According to a message issued by FBR officials, small shopkeepers can complete their tax filing by filling out a simple one-page form available in Urdu and regional languages.
The filing process can be completed through the FBR website, mobile application, or the nearest tax office.
The FBR has encouraged small shopkeepers to bring their businesses into the formal tax system and benefit from the facilities available under the special scheme.
Read also: FBR announces relief for small shopkeepers under special tax scheme
