{"id":63608,"date":"2020-04-03T16:12:12","date_gmt":"2020-04-03T11:12:12","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63608"},"modified":"2020-04-03T16:12:14","modified_gmt":"2020-04-03T11:12:14","slug":"fbr-refunds-56b-exports-faster","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-refunds-56b-exports-faster.html","title":{"rendered":"FBR refunds PKR 56bn to exporters through FASTER system"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has announced releasing refunds worth PKR 56 billion to exporters through the Fully Automated Sales Tax e-Refund (FASTER) system \u2013 in a bid to assist exporters during the COVID-19 pandemic and help resolve their liquidity issues, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-given-two-days-refund-sales-tax-claims-exporters.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR given two days to refund sales tax claims of exporters  (opens in a new tab)\">FBR given two days to refund sales tax claims of exporters <\/a><\/p>\n\n\n\n<p>Reports indicate that since the introduction of the FASTER system\nin July 2019, claims amounting to PKR 59 billion have been filed through it.\nFBR has approved about PKR 56 billion \u2013 amounting to nearly 95% of the claims. <\/p>\n\n\n\n<p>The government had introduced the FASTER system to quickly refund the due amounts to the exporters after the zero-rating system was abolished for five export-oriented sector. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/faster-clears-up-75-refund-claims-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FASTER clears up to 75% of refund claims: FBR (opens in a new tab)\">FASTER clears up to 75% of refund claims: FBR<\/a><\/p>\n\n\n\n<p>In its previous meeting, the Economic Coordination Committee\n(ECC) had sanctioned PKR 75 billion for FBR to issue the income tax refunds,\nduty drawbacks and customs duties. Reportedly, these amounts will be refunded\nto nearly 676,055 beneficiaries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has announced releasing refunds worth PKR 56 billion to exporters through the Fully Automated Sales Tax e-Refund (FASTER) system \u2013 in a bid to assist exporters during the COVID-19 pandemic and help resolve their liquidity issues, a news source reported. Read: FBR given two days to refund sales tax claims of exporters Reports indicate that since the introduction of the FASTER system in July 2019, claims amounting to PKR 59 billion have been filed through it. FBR has approved about PKR 56 billion \u2013 amounting to nearly 95% of the claims. The government had introduced the FASTER system to quickly refund the due amounts to the exporters after the zero-rating system was abolished for five export-oriented sector. Read: FASTER clears up to 75% of refund claims: FBR In its previous meeting, the Economic Coordination Committee (ECC) had sanctioned PKR 75 billion for FBR to issue the income tax refunds, duty drawbacks and customs duties. Reportedly, these amounts will be refunded to nearly 676,055 beneficiaries.<\/p>\n","protected":false},"author":57,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[25106],"persona":[],"class_list":{"0":"post-63608","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-refunds-pkr-56bn-to-exporters-through-faster-system","9":"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>FBR refunds PKR 56b to exporters through FASTER - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has announced releasing refunds worth PKR 56 billion to exporters through the Fully Automated Sales Tax\" \/>\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\/fbr-refunds-56b-exports-faster.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR refunds PKR 56b to exporters through FASTER - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has announced releasing refunds worth PKR 56 billion to exporters through the Fully Automated Sales Tax\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-refunds-56b-exports-faster.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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