ISLAMABAD: The PML-N government on Thursday paid Rs31.3bn sales tax refunds to traders and exporters a few hours ahead of the completion of its five-year term of government while leaving behind massive shortfalls in revenue collection.
The Ministry of Finance has asked Federal Board of Revenue (FBR) to prepare a list of claimants who will be issued a refund. The list was completed in a very short time and the full amount will reach taxpayers’ account within 24 hours.
The total amount of refund issued till May 31 reached to Rs100bn in first 11 months up by 85 per cent from Rs54bn paid out over the corresponding period of last year.
The business leaders welcomed the government’s last minute decision while pointing out that the timeline has been “synchronised with the upcoming election and is a political move.”