Tax refund

(redirected from Tax Refunds)

Tax refund

Money back from the government when too much tax has been paid or withheld from a salary.

Tax Refund

Money given back to a taxpayer if he/she/it has paid too much in taxes for a given year. Tax refunds are most common for employees from whose paychecks too much has been withheld because of deductions and credits for which the withholding does not account. One may only collect a tax refund for a certain number of years after it was originally due.
References in periodicals archive ?
Global Banking News-March 14, 2018--Premera receives federal tax refunds
Late last month, WeChat Pay cooperated with Global Blue to offer instant tax refunds for Chinese tourists departing Madrid airport.
The PIAF chairman Irfan Iqbal Sheikh along with senior vice chairman Tanveer Ahmed Sufi and vice chairman Shahzeb Akram 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.
PIAF chairman Irfan Iqbal Sheikh in a statement along with senior vice chairman Tanveer Sufi and vice chairman Shahzeb Akram 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.
It's a futuristic platform that combines payments, tax preparation and tax refund together to make tax refunds more convenient for low & middle income class Americans.
On the return date for the writs, the general district court entered transfer orders requiring Debtors to turn over their 2015 tax refunds to Creditors upon receipt of funds, or to demonstrate that a refund would not be received.
The most popular tax refunds are for interest on mortgages and real estate purchases.
According to the document, posted to the FTA's website, the Cabinet "may issue a decision introducing the Tax Refunds for Tourists Scheme," which will specify the following: the date on which the scheme comes into effect, the mechanism for tax refunds and the limitations on claiming tax refunds, among other details.
It may be recalled that in a meeting with Chairman and senior officials of FBR in Finance Division on 26th October, Finance Minister, Senator Mohammad Ishaq Dar had issued directives for payment of sales tax refunds by 31st October, 2017, against RPOs issued up to 31st August, 2017.
The accused has been charged for illegally sanctioning sales tax refunds with respect to the business firms that never existed.
The Centralised Sales Tax Refund Office (CSTRO) of the Federal Board of Revenue (FBR) would electronically transfer details of approved Refund Payment Orders to the State Bank of Pakistan (SBP) for direct credit of sales tax refunds to the declared bank accounts of the claimants.
Chairing a meeting at the Finance Division with the Federal Board of Revenue (FBR) to review the process for sales tax refunds promised in budget 2016 here on Saturday, Ishaq Dar expressed the hope that finalization of sales tax refunds would help in increasing the business activity in the country.