FBR forms committee to review deferred refund claims
ISLAMABAD: The Federal Board of Revenue (FBR) has constituted a committee to review deferred refund claims and develop a mechanism for their transparent, efficient and timely disposal. The committee would examine all categories of deferred refunds pending before various field formations and recommend a framework for their classification, prioritization and disposal. The move is aimed at…
The Federal Board of Revenue (FBR) in Pakistan has established a committee to assess deferred refund claims and establish a systematic process for their timely resolution. The committee comprises senior revenue officials, such as Ahmad Kamal, chief commissioner-IR, CTO-II, Karachi; Shabi Ul Aijaz, chief commissioner-IR, Large Taxpayer Office (LTO), Karachi; and Muhammad Imtiaz Khan, Chief Refund, FBR.
This committee's primary objective is to meticulously examine every category of deferred refunds pending before various field formations of the Inland Revenue Department. The committee aims to produce a framework for organizing, classifying, and prioritizing refund claims based on factors like risk, age, monetary value, and documentation completeness.
This risk-based approach will enable the tax department to discern which claims necessitate thorough verification and which can be processed more swiftly due to complete documentation and supporting information.
In addition to this, the committee has been mandated to establish timelines for every phase of refund processing. These phases encompass document submission and scrutiny, claim examination and verification, deficiency communication, admissibility determination, and the issuance of either a refund order or a speaking order. Moreover, the committee is expected to propose an automated framework for handling deferred refunds and determine the optimal duration for their disposal, which could range from one week to a fortnight or any other period determined by the committee.
The FBR has urged all chief commissioners of Inland Revenue to cooperate fully with the committee and furnish all necessary records, data, and information promptly. The committee has been granted the authority to convene meetings as frequently as needed to fulfill its mandate. This urgency underscores the significance of the exercise, which is not viewed as a routine review but rather as a critical endeavor to streamline refund claim processing.
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