Govt decides to issue sales tax refund bonds to claimants in order to facilitate businesses
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Adviser on Finance Dr. Abdul Hafeez Shaikh has directed to issue sales tax refund bonds to the claimants through Central Depository Company (CDC).
He was speaking at a ceremony held at Ministry of Finance in Islamabad on Friday.
The bonds amounting to seven billion rupees are being issued in the first tranche. This issuance shall benefit 90 claimants.
The Adviser said that FBR is planning another issuance next month. He advised the claimants to exercise their option for issuance of bonds and provide their CDC accounts to FBR so that they can be accommodated in the next issuance.
The government decided to issue sales tax refund bonds to the claimants in order to facilitate businesses, particularly exporters, and resolve the problem of long outstanding refunds.
