'In order to provide liquidity support to the business and to promote economic activities in the country, the government has decided to issue verified sales tax refund
of Rs22 billion for all years,' the FBR stated.
ISLAMABAD -- Adviser to Prime Minister on Finance, Dr Abdul Hafez Sheikh Wednesday said that in order to facilitate taxpayers to get their tax refunds
on time, the government was mulling over adopting Bangladesh and China model.
The electronic system of the Tax Refund
Scheme for Tourists has registered significant success since its November launch, where the number of outlets connected to the system grew to 12 air, land and sea ports, including the Abu Dhabi International Airport; Al Ain International Airport; Dubai International Airport; Al Maktoum International Airport; Sharjah International Airport; and Ras Al Khaimah International Airport; as well as two sea ports: Zayed Port in Abu Dhabi and Port Rashid in Dubai; and four land ports: Al Ghuwaifat Border Post in Abu Dhabi, Hili Border Port and Al Madheef Border Crossing in Al Ain, and Dubai's Hatta Border Exit.
Summary: Self-service kiosks have been set up across all of the ports included in the Tax Refunds
for Tourists Scheme in order to allow tourists to r...
Government has planned to clear approx 40 to 60 billion rupees worth of refund claims through this scheme and it has finalized around 600 refund claimants who can Sales Tax Refund
payments through Refund Bonds.
However, the director of the tax refund
company noticed two credit card numbers repeatedly appeared in tax refund
transactions for different travellers.
RM17.1 billion out of RM37 billion in Goods and Services Tax (GST) and income tax refunds
has been returned to taxpayers as of April 30.
Example 1: State income tax refund
fully includable: Taxpayer A paid property taxes of $4,000 and state income taxes of $5,000 in 2018.
The amount was supposed to complete the implementation of the Supreme Court (SC) directive on income tax refund
amounting to P30.23 billion to Meralco customers until 2010.
ERC has directed Meralco to submit a proposed scheme that incorporates the unclaimed tax refund
for purposes of reducing the distribution rates of its customers, among others.
WASHINGTON - The average tax refund
is down 9 percent this year, the Internal Revenue Service announced Thursday.