ISLAMABAD (National Times) – The Federal Board of Revenue (FBR) has paid sales tax refunds worth Rs176 billion during the first six months of fiscal year of 2022-23 against Rs149 billion paid during the same period of 2021-22, showing an increase of Rs 27 billion, the data shows.

The data of the premier tax collection agency further shows that during 2021-22, a total of sales tax refunds of Rs288.4 billion were paid to improve the liquidity position of the taxpayers during the period under reference which is an excess of Rs80 billion over and above the refunds paid in 2020-21.

The FBR has made payment of sales tax refunds of Rs143.8bn under the ‘FASTER’ system during the first five months of current fiscal year (2022-23) as compared to Rs99.5 billion paid in 2021-22, reflecting an increase of 44.5 per cent.