Adviser to the Prime Minister on Finance Dr Hafeez Shaikh took to his twitter account to share the decision that the government has taken important decisions on tax
refunds 'for the promotion of economic activity in the country and to provide liquidity support to businesses.'
Exporters get Rs22bn refunds via new system
He said that the system would bring more transparency in the sales tax
refunds claims as the human interaction was completely eliminated and the system would work on electronically generated invoices of sales and purchases.
FBR develops new software to expedite refund claims
However, exporters who do not file form 'H' - mandatory to claim
refunds - along with their monthly returns will get 120 days, extendable by another 60 days under certain conditions, to submit the form.
FBR new rules to expedite refund claims processing
From November 18 2018, eligible tourists in the UAE have been able to request
refunds on VAT from purchases made while in the UAE.
Airport clerk stole Dh70,000 in VAT refunds
Many Americans may confuse their small
refund as a sign that they paid more in taxes as a result of the Tax Cuts and Jobs Act.
Millions of Americans could be surprised as their tax refunds shrink
The PIAF chairman Mian Nauman Kabir in a statement along with senior vice chairman Nasir Hameed Khan and vice chairman Javed Iqbal Siddiqui said that the businessmen were bearing huge financial costs on their own hard earned stuck-up money; therefore, the FBR chairman should look into the matter and ensure early release of sales tax and income tax
refunds as promised by the government through promissory notes.
PIAF calls for early release of pending refunds
'So all of these together will allow the
refund process to be better.
VAT payments, refunds made easier after 30 years because of TRAIN-DOF
The DOF said the pre-TRAIN process of claiming VAT
refunds involved the submission of many documents, and often takes years to resolve.
Gov't introduces reforms to ensure VAT refund
In the case of RFD-01A (ITC
Refunds plus other
refunds) claims, out of the total
refund claims of Rs.
Centre clears GST refunds worth Rs 91,149 crore
Byrne revealed that the number of companies registering for the tourist VAT
refund scheme are expected to more than double from currently 4,500-plus to 6,000 by the end of 2018 and 10,000 by early next year.
Gulf - Unlimited VAT refunds for tourists visiting UAE
"This means that the tourist
refund will come in to effect after the scheme is implemented.
Tourists in UAE won't get retrospective VAT refund
The offset application needs to be submitted to IRB for verification before approval while the remaining tax
refunds will be carried out based on the government's fiscal ability, the finance minister said in a statement.
You can get more money back now, Guan Eng tells taxpayers
When these resources work as planned, a taxpayer's
refund can be issued in as little as 10 days, with most
refunds paid within 21 days.
Explaining refund payment delays to clients
Refund claims for open tax years are an often overlooked opportunity to ensure that a taxpayer takes advantage of tax benefits to which it is entitled.
Refund Claims: Don't Leave Money on the Table