{"id":64326,"date":"2020-04-20T14:31:23","date_gmt":"2020-04-20T09:31:23","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64326"},"modified":"2020-04-20T14:31:24","modified_gmt":"2020-04-20T09:31:24","slug":"fbr-to-credit-due-tax-refunds-in-bank-accounts","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-to-credit-due-tax-refunds-in-bank-accounts.html","title":{"rendered":"No more tax refund cheques, FBR to credit due amounts in bank accounts"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) recently announced its decision to issue income tax refunds by directly crediting the due amounts into the beneficiaries\u2019 bank accounts \u2014 rendering the issuance of cheques, in this instance, obsolete; according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong>  <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/fbr-requests-partial-exemption-from-lockdown-to-maximize-revenue-collection.html\" target=\"_blank\">FBR requests partial exemption from lockdown to maximize revenue collection<\/a> <\/p>\n\n\n\n<p>The FBR has communicated that this step has been taken in a bid to ensure maximum transparency by minimizing human interactions throughout the entire process. The board has asked all the income tax refund beneficiaries to update their IRIS profiles with their International Bank Account Number (IBAN) details. For this purpose, FBR has already updated the IRIS for registration of IBAN bank account numbers. <\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/fbr-directed-to-clear-refunds-to-provide-relief-to-smes.html\" target=\"_blank\">FBR directed to clear refunds to provide relief to businesses struggling with COVID-19<\/a><br>Previously, the board had been instructed by the government to expedite the payment of the <a rel=\"noreferrer noopener\" aria-label=\"sales and income tax refunds (opens in a new tab)\" href=\"https:\/\/www.zameen.com\/news\/fbr-refunds-pkr-51-5-bn-exporters-businesspersons.html\" target=\"_blank\">sales and income tax refunds<\/a> to people in a bid to help them through their liquidity crunch amid the current coronavirus lockdown. It was also reported that the board had received a large number of unlawful claims filed without proper documents, and that this was hindering the issuance of payments for the genuine beneficiaries. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) recently announced its decision to issue income tax refunds by directly crediting the due amounts into the beneficiaries\u2019 bank accounts \u2014 rendering the issuance of cheques, in this instance, obsolete; according to news sources. Read: FBR requests partial exemption from lockdown to maximize revenue collection The FBR has communicated that this step has been taken in a bid to ensure maximum transparency by minimizing human interactions throughout the entire process. The board has asked all the income tax refund beneficiaries to update their IRIS profiles with their International Bank Account Number (IBAN) details. For this purpose, FBR has already updated the IRIS for registration of IBAN bank account numbers. Read: FBR directed to clear refunds to provide relief to businesses struggling with COVID-19Previously, the board had been instructed by the government to expedite the payment of the sales and income tax refunds to people in a bid to help them through their liquidity crunch amid the current coronavirus lockdown. It was also reported that the board had received a large number of unlawful claims filed without proper documents, and that this was hindering the issuance of payments for the genuine beneficiaries.<\/p>\n","protected":false},"author":75,"featured_media":59990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[26727,19230,23311],"persona":[],"class_list":{"0":"post-64326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-to-credit-due-tax-refunds-in-bank-accounts","9":"tag-federal-board-of-revenue-fbr","10":"tag-income-tax-refunds","11":"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 to credit due tax refunds in bank accounts - Zameen News<\/title>\n<meta name=\"description\" content=\"Federal Board of Revenue (FBR) recently announced its decision to issue income tax refunds by directly crediting the due amounts into the beneficiaries\u2019 bank accounts\" \/>\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-to-credit-due-tax-refunds-in-bank-accounts.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to credit due tax refunds in bank accounts - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Federal Board of Revenue (FBR) recently announced its decision to issue income tax refunds by directly crediting the due amounts into the beneficiaries\u2019 bank accounts\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-to-credit-due-tax-refunds-in-bank-accounts.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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