ISLAMABAD (April 13 2003) : Changing the mode of refund payment to facilitate the exporters, the Central Board of Revenue (CBR) is formulating a new 'sales tax refund verification system', empowering exporters' associations to verify refund claims instead of the sales tax collectors.
The new system would address all the refund-related issues including liquidity problem, delay in refund payments and above all verification of claims.
A senior tax official told Business Recorder here Saturday that under the new system exporters with good credibility would no more be required to file the refund documents as data could be submitted through computer floppy.
The new refund approval system would be gradually installed in all the major cities.
Explaining the working of the new system, he said CBR has asked all the exporters associations to establish their service centres in major cities.
The CBR would provide necessary computer software to these service centres for verification purposes.
The exporters would not be required to go to the collectorates, as the service centres would be empowered to receive the refund claims.
The most important aspect of the new approach is that the service centres would themselves verify the refund claims filed by the exporters and the collectorates would not play any role in the verification process.
Thereafter, the verified claims would be forwarded to the CBR for the issuance of refund.
He said that the new refund system would be instrumental in speedy payment to the exporters and would promptly resolve the liquidity problems being faced by the exporters' community.
The CBR and hosiery association have principally agreed to set up service centre, besides discussion is under way with other leading exporters' associations as well, he maintained.