KARACHI - Chief Commissioner, Federal Board of Revenue (FBR), Corporate Tax Office, Karachi Dr Aftab Imam on Saturday assured the exporters that FBR gave importance to tax matter of exporters and believed in speedy refunds of their money; which was actually the investment of exporters.    

Timely refunds would enable the export industries for further investment which would ultimately bring foreign exchange to the country and would also generate revenue for the country, he said during his visit to PHMA House, said a PHMA release.

He said FASTER-plus system was processing refunds within 42 to 72 hours, while refunds process had been improved with speedy refunds in general. 

However, particular cases of exporters and all the legitimate pending matters of exporters at the end of Corporate Tax Office, Karachi would be resolved on priority basis.

Muhammad Jawed Bilwani, Chief Coordinator and former central chairman, Pakistan Hosiery Manufacturers and Exporters Association drew attention of Chief Commissioner CTO-Karachi on burning issue of exporters relating to Sales Tax Refund, Audit, Income Tax Refund and Audit, Zero Rated Certificate for reduced tariff of electricity and gas and other issues.

He maintained that after various consultative sessions and feedback from the exporters over last 16 months, FASTER refund system had been improved and also transformed to FASTER-plus. This system was very much applicable as the system was efficiently processing the refunds electronically up to 80 per cent without human involvement. 

Remaining 20 percent might have some issues of filing which after resolution should also be processed on fast track. 

He was of the view that due to speedy refunds increasing trend in textile exports was witnessed.

He said several members had informed that still amounts were missed and deferred in the FASTER system which should be looked into and rectified. 

He proposed that total missing amount should be reflected in Sales Tax Refund MIS.