Shaikh wrote that the government is to release Rs22bn as sales tax refunds
immediately, along with Rs1.7bn of income tax refunds
(up to Rs100, 000) for all years.
"There's a difference between taxes and your refund
," said Joseph Rosenberg, a senior research associate at the Urban-Brookings Tax Policy Center at the Urban Institute.
AFTER three decades of hits and misses, value-added tax (VAT) payments and refunds
have become easier for businesses as a result of the passage of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, the Department of Finance said.
The Centre said efforts are being made continuously to clear all the pending refund
claims, wherever requisite information is provided and found eligible.
"Most of the malls and retail groups have been engaged with us and are ready for VAT refund
. We are engaging on a multi-level to have everyone on board.
The Federal Tax Authority (FTA) has clarified that after submission of required documents, a tourist shall be able to claim the refund
via credit card or in cash through a global operator, he said.
'We hope that the failure to return RM16.046 billion of tax refunds
is the last mega expose related to the misappropriation and misuse of taxpayers' money by the previous government.
By the end of 31st July,2018, the total amount of IGST refund
claims disposed by CBIC is Rs 29,829 Crore taking the disposal rate to 93%.
One explanation for a delayed refund
is increased scrutiny of returns that include certain refundable tax credits.
Question: Now that corporate tax rates have been reduced starting in 2018, does it make sense to look for refund
claims in earlier tax years?
With the 2018 filing season in full swing, the IRS provided some basic tax and refund
tips to clear up some common misbeliefs, such as all refunds
are delayed, ordering a tax transcript is a "secret way" to get a refund
date and calling the IRS or a tax professional will provide a better refund
For example, if you recently sold, traded, refinanced or even total your vehicle prior to the warranties/insurances expiring, you might want to check your eligibility for a refund
are just not talked about within the industry," says the CEO of MWR.