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Release of refund claims to textile exporters on the cards

Release of refund claims to textile exporters on the cards

FAISALABAD: Regional Tax Office (RTO) has accelerated efforts for disbursement of pending refund claims of textile exporters, said Shaukat Mahmood Chief Commissioner Inland Revenue Faisalabad during a meeting at Pakistan Textile Exporters Association (PTEA).

Speaking on the occasion, The Chief Commissioner said that textile exporters were playing important role in strengthening the economy while textile sector was the mainstay of the economy.

He said that the Regional Tax Office Faisalabad had started processing of refund claims under Section-66 and all out efforts were being made to remove hurdles in their processing.” He said that majority of long-time pending refund cases had also been resolved; however a large number of claims are still pending. Regarding federal excise duty refunds, chief commissioner assured to clear pending claims within shortest possible time. All refund claims are treated on first come first serve basis in most fair and transparent manner on parameters set by government, he said.

He also sought suggestions from exporters for smooth processing of refund claims and assured that their positive suggestions would be forwarded to FBR for implementation. To a question, the Commissioner said that RTO would share necessary information about the black listed suppliers so that it could be circulated among the members for their convenience. Regarding audit notices to the exporters, he said that we had to follow the law and these notices are routine practice.

Earlier, PTEA Chairman Sheikh Ilyas Mahmood welcomed the Commissioner and congratulated him on his incumbency as Chief Commissioner. In his welcome address, he briefly enlightened the hurdles faced by textile exporters in refund regime. He said that huge amounts of textile exporters are stuck up in refund regimes creating severe financial crunch and if that amounts are released, exporters can deploy that capital towards expanding their businesses. He requested for speedy deposal of regular claims.