Filing tax returns is an essential part of every citizen’s financial responsibility, and it is equally important to know how to claim a tax refund. In Pakistan, taxpayers are entitled to refunds if they have paid more taxes than they owe. However, many people are not aware of the process of claiming tax refunds in Pakistan. In this article, we will guide you through the process of claiming tax refunds in Pakistan, step-by-step.
Step 1: Verify the Eligibility Criteria
Before claiming a tax refund, it is essential to ensure that you are eligible for a refund. Generally, taxpayers are eligible for a refund if they have paid more taxes than their actual liability. You can check your tax liability by reviewing your tax return.
Step 2: File Tax Returns
To claim a tax refund in Pakistan, you must file your tax returns. You can file your tax returns electronically through the FBR’s online portal, or you can submit a paper return at the relevant tax office.
Step 3: Review the Assessment Notice
After filing your tax returns, you will receive an assessment notice from the FBR. You should review this notice carefully to ensure that your tax returns have been processed correctly. If you have any objections, you can file a revision petition within 30 days of the assessment notice’s receipt.
Step 4: Wait for Refund Payment Order
Once your tax returns have been processed, and your assessment notice has been issued, the FBR will issue a refund payment order if you are eligible for a refund. This payment order will contain the amount of the refund and the payment details.
Step 5: Collect Your Refund
After receiving the refund payment order, you can collect your refund from the designated bank. To collect the refund, you must present the refund payment order and a valid form of identification, such as your CNIC or passport.
Claiming a tax refund in Pakistan may seem like a daunting task, but by following these simple steps, you can easily claim the refund that you are entitled to. It is essential to remember that you must be eligible for a refund, file your tax returns, review the assessment notice, wait for the refund payment order, and collect your refund from the designated bank. If you have any queries or issues, you can contact the FBR for further guidance.