Bottlenecks: RTO steps up efforts to clear refund claims
FAISALABAD: The Regional Tax Office (RTO) has stepped up efforts to release pending refund claims of textile exporters within the set timeframe.
Chief Commissioner Inland Revenue Faisalabad Shaukat Mahmood stated this while speaking at a meeting with representatives of the Pakistan Textile Exporters Association (PTEA).
He said textile exporters were playing a key role in strengthening the economy as the sector was the mainstay of the national economy. “The government is fully committed to solving the financial issues of textile exporters as it has become a major challenge, which is not only hurting industrial activities but is also hindering new investments,” he added.
Mahmood said the RTO would share necessary information about the blacklisted suppliers so that it could be circulated among members of the association.
Speaking about the audit notices sent to the exporters, he said the RTO had to follow the law and the notices were a routine practice.
PTEA Chairman Sheikh Ilyas Mahmood, while highlighting the main problems, said a huge amount of textile exporters was stuck in refund claims and if it was released, the exporters could deploy that capital towards expanding their businesses.
He said claims of federal excise duty had been pending for many years and called for expediting the clearance of these cases.
He pointed out that refund claims processed through RTO had been rolled back without informing the exporters and after reprocessing, valid refund payment had been deferred.
Published in The Express Tribune, February 6th, 2014.
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