Islamabad
The Federal Board of Revenue (FBR) has clarified a news story titled “Textile industry irked by facts, misrepresentation,” published in Daily Business Recorder on December 26, 2019 and stated that the issue of liquidity problems due to imposition of sales tax on previously zero rated sectors was raised in the standing committee meeting. The FBR acknowledged the issue and explained that in first 6 months, a total of Rs98 billion refunds have been issued as compared to the Rs31 billion in last year, said a press release issued by FBR here on Thursday. —APP
