FBR has announced that all categories of exporters will be eligible for speedy sales tax refunds within 72 hours under the “FASTER” system starting from October 1, 2024.

Previously, this facility was limited to five leading export-oriented sectors. FBR’s decision to extend the scope of “FASTER” to all exporters is a significant development for the entire export industry.

The “FASTER” system is FBR’s fastest system for refund processing. Under the new rules, all exporters can enjoy speedy refund payments for export claims filed from July 2019 onwards.

For commercial exporters, refunds will be processed upon receipt of export proceeds realization certificates or bank credit advice.

FBR has also introduced amendments regarding refunds for goods supplied at zero-rate. Refunds will be paid based on the input tax paid on purchases or imports that are actually consumed in the supplied goods.

FBR will continue to process refund claims through the Sales Tax Automated Refund Repository (STARR) system for those that do not meet the criteria for the “FASTER” channel.

This significant expansion of the “FASTER” system demonstrates FBR’s commitment to facilitating exports and supporting the growth of the Pakistani economy.