FBR, provincial revenue authorities sign MoU for single tax return

FBR issues refunds of Rs144 billion till December


Islamabad: The Federal Revenue Board (FBR) has issued a total of 144 billion rupees in refunds from July 2020 to December 2020, compared to only 76 billion rupees in the same period last year, an increase of 89%.

According to a press release issued by the board of directors, the health figures of refund issuance have greatly promoted economic activity in the country.

Despite the increase in refunds, the Federal Reserve Bank managed to exceed taxes in the first five months of this year.

The statement added that despite the economic downturn following the continuing Covid-19 pandemic, the board of directors has achieved impressive results.

In addition, it added that the government has expanded important tax relief measures for the public in the 2020 Finance Law.

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