Business woes ICCI demands release of refunds


Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ahmed Waheed has called on the Federal Board of Revenue (FBR) to expedite the release of tax refunds in compliance with the commitment made by Prime Minister Imran Khan.

“An undue delay in income tax, sales tax and customs duty refunds has been creating liquidity issues for the business community and affecting the promotion of business activities,” Waheed said in a statement. He pointed out that income tax refunds of the business community had been pending with the FBR since 2014-15 and despite commitment by the government and the State Bank, the payments were delayed, which was unjustified.

Waheed said PM Imran had taken a positive step by announcing a relief package to address the issue of refunds, but still a large accumulated amount of refunds was stuck with the FBR, which was a major issue for the business community.