FBR Sets up Primary System to Transfer Tax Refunds to Bank Accounts

A spokesperson for the Federal Board of Revenue (FBR) said that the primary system to transfer the tax refunds to taxpayers’ bank accounts has been set up.

As per the FBR spokesperson, all taxpayers should update their IRIS profiles and provide their bank accounts and linked IBANs. Returns for sales and income taxes, as well as federal excise duty, would be sent via checks directly to the bank accounts.

A system has been set up in exporters’ bank accounts for online payment of the customs duty drawback, however, that exporters should provide bank accounts and associated IBANs in their profiles.

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