{"id":60969,"date":"2020-02-04T10:42:16","date_gmt":"2020-02-04T10:42:16","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60969"},"modified":"2020-02-04T10:42:18","modified_gmt":"2020-02-04T10:42:18","slug":"issue-o-fake-refund-invoices-resolved-fbr","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/issue-o-fake-refund-invoices-resolved-fbr.html","title":{"rendered":"Issue of fake refund invoices resolved: FBR"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) recently announced its decision to audit and carefully scrutinize all cases regarding fake tax refund invoices \u2014 with this decision coming in response to allegations of discrepancies found in tax refunds, according to news sources. As per the tax authority, while all issues in this regard are expected to be resolved soon, the processing of each refund case has become a time-consuming endeavour. <\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/8th-extension-in-income-tax-returns-filing-deadline.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR announces eighth extension in income tax returns filing deadline (opens in a new tab)\">FBR announces eighth extension in income tax returns filing deadline<\/a><\/p>\n\n\n\n<p>Previously, the Federal Tax Ombudsman (FTO) and Auditor General of Pakistan (AGP) had expressed their reservations over the issuance of sizeable tax refund amounts. In various reports, the officials maintained that refunds were being granted without conducting an <a href=\"https:\/\/www.zameen.com\/news\/fbr-given-15-days-complete-undue-tax-refunds-investigation.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"appropriate investigation of the claims (opens in a new tab)\">appropriate investigation of the claims<\/a> under the FBR\u2019s Expeditious Refund System (ERS) by the Centralized Sales Tax Refund Office (CSTRO).<\/p>\n\n\n\n<p>The FBR has explained that there were two mechanisms being applied to deal with the refund claims. The first used an automated system to process refunds for the exporters; with an audit of these automated-processed refunds to be conducted at a later date. <\/p>\n\n\n\n<p> <strong>Read: <\/strong> <a href=\"https:\/\/www.zameen.com\/news\/exporters-request-govt-to-release-sales-tax-refunds.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Exporters request govt to release sales tax refunds (opens in a new tab)\">Exporters request govt to release sales tax refunds<\/a><\/p>\n\n\n\n<p>The second system was devised for\nthe individual taxpayers, and the refunds issued under this mechanism were \u2018carry\nforward refunds\u2019 which are issued once per year. The audit in these cases is\nexecuted beforehand. <\/p>\n\n\n\n<p>The FBR has assured that all\nrefunds are verified through lengthy inbuilt checks and computerised analytics\nto identify fake invoices. <\/p>\n\n\n\n<p>Despite these reassurances, the\nAGP has strongly suggested for the tax authority to amend the Refund Rules by\ninserting a post refund audit rule for each claim approved by the ERS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) recently announced its decision to audit and carefully scrutinize all cases regarding fake tax refund invoices \u2014 with this decision coming in response to allegations of discrepancies found in tax refunds, according to news sources. As per the tax authority, while all issues in this regard are expected to be resolved soon, the processing of each refund case has become a time-consuming endeavour. Read: FBR announces eighth extension in income tax returns filing deadline Previously, the Federal Tax Ombudsman (FTO) and Auditor General of Pakistan (AGP) had expressed their reservations over the issuance of sizeable tax refund amounts. In various reports, the officials maintained that refunds were being granted without conducting an appropriate investigation of the claims under the FBR\u2019s Expeditious Refund System (ERS) by the Centralized Sales Tax Refund Office (CSTRO). The FBR has explained that there were two mechanisms being applied to deal with the refund claims. The first used an automated system to process refunds for the exporters; with an audit of these automated-processed refunds to be conducted at a later date. Read: Exporters request govt to release sales tax refunds The second system was devised for the individual taxpayers,&hellip;<\/p>\n","protected":false},"author":75,"featured_media":59990,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[17840,17839,17834,3362,17837],"persona":[],"class_list":{"0":"post-60969","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-agp","9":"tag-cstro","10":"tag-details-on-issue-of-fake-refund-invoices-resolved-fbr","11":"tag-fbr","12":"tag-tax-refunds","13":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Issue of fake refund invoices resolved: FBR | Zameen News<\/title>\n<meta name=\"description\" content=\"FBR has announced its decision to audit and scrutinize all cases of fake tax refund invoices in response to allegations of discrepancies in tax refunds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/issue-o-fake-refund-invoices-resolved-fbr.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Issue of fake refund invoices resolved: FBR | Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR has announced its decision to audit and scrutinize all cases of fake tax refund invoices in response to allegations of discrepancies in tax refunds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/issue-o-fake-refund-invoices-resolved-fbr.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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