The Finance Division told a finance standing committee of the National Assembly that 65% more tax refunds have been processed in FY20, through a centralized automated system.
Rs. 126 billion refunds had been issued in FY20 which included Rs. 10 billion income tax refunds, Rs. 40 billion sales tax refunds, Rs. 20 billion custom duty drawbacks and Rs. 26 billion tax relief granted under the Prime Minister’s COVID relief package. In addition, the government also issued refunds bonds of Rs. 30 billion to facilitate the business community.
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