KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has informed the Federal Board of Revenue (FBR) that its members’ outstanding tax refund claims reached Rs96 billion as of November — including Rs61bn in income tax and Rs35bn in sales tax.
In a letter to FBR Chairman Rashid Mahmood Langrial, OICCI Secretary General M. Abdul Aleem said that despite repeated engagements, refund backlogs remain “excessively high,” creating serious financial and operational strain for foreign investors.
He warned that the prolonged delay in releasing legitimate refunds is undermining the investment climate at a time when Pakistan urgently needs to restore the confidence of overseas investors.
