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Field formations directed to pay all income tax refunds submitted by January 31, 2021: FBR

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The FBR has directed the field formations to immediately pay all income tax refunds. Filed under section 170 of the Income Tax Ordinance 2001 by January 31, 2021 for the tax year 2020.

According to the FBR’s directive to field formations to process income tax refund requests, the FBR said that refund payments or refund adjustments holds the same financial impact on the exchequer and unreasonable or criminal refunds not to pay or adjusted by taxpayers.

In this regard, data on Income Tax Refund Applications for Tax Year 2020 obtained from Field Formation / PRAL, and verified. According to data the total refund claims of Rs 74.33 billion in the tax year 2020 and 6,073 submitted applications.

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It will help to process delays in refund requests. Also prevent unnecessary complaints from taxpayers for non-payment of refunds. Thus, the formatted data of refund requests emailed to the field formations. All formations requested to comply all applications filed under Section 170 of the ITO 2001 by January 31, 2021.

Source

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