The government has released refunds of sales and income tax worth more than Rs23 billion, the Federal Board of Revenue said Tuesday.
The decision was taken in order to provide liquidity support to businesses and promote economic activities in the country, according to the FBR statement.
The government decided to issue verified sales tax refund of Rs22 billion for all the years, the FBR said.
A verified income tax refund of Rs1.7 billion (every case up to Rs100,000) has also been released for the taxpayers, according to the statement.
It said the verification process for the remaining outstanding refunds was being expedited vigorously.
Furthermore, the government plans to issue outstanding verified refunds between Rs100,000 to 500,000 for all the years in the next month.