*ISLAMABAD: Adviser to the Prime Minister on Finance and Economic Affairs Dr Abdul Hafeez Shaikh announced on Monday the government has taken important decision on release of tax refunds.*
“Important Decision by the Government on Tax Refunds for the promotion of economic activity in the country and to provide liquidity support to businesses,” he tweeted.
Mr Shaikh said Rs22 billion worth of verified sales tax refunds for all years will be released immediately.
Rs1.7 billion worth of income tax refunds (up to Rs 1 Lakh) for all years will also be released immediately, he said.
The PM aide said the verification process for other outstanding refunds will be expedited.
Income tax refunds between Rs1 billion to Rs 5billion for all years will be paid next month, he added.