📊 IRD Refunds Rs. 82.4 Bn VAT Under New Risk-Based System

The Inland Revenue Department (IRD) settled over Rs. 82.4 Bn in Value Added Tax (VAT) refund claims processed up to July 15, 2026, following the SVAT scheme abolition in October 2025. • Overall Disbursements: • Total Refunded: Approx. Rs. 82.4 Bn across claims filed between Oct 2025 – Apr 2026. • On-Time Settlements: Rs. 78.83 Bn paid out within the statutory 45-day window across 3,432 processed claims. • Eligible beneficiaries include direct exporters, strategic enterprises, and approved export-oriented supply chains crucial for national revenue growth. • Low- and Medium-Risk Taxpayers: • Payout Value: Rs. 22.15 Bn (99.98% of total claimed value in this category). • Efficiency: Average turnaround time of 29 days. • On-Time Rate: Monthly compliance improved from 87% in Oct 2025 to 99% by Apr 2026. • High-Risk Taxpayers: • Payout Value: Rs. 60.3 Bn issued out of Rs. 61.9 Bn claimed (97% settlement rate). • Efficiency: Only 74.3% (Rs. 45.98 Bn) paid within the 45-day limit. • On-Time Rate: Dropped sharply from over 90% (Oct 2025–Jan 2026) to 48% by Apr 2026. • Bottlenecks: • Delays in high-risk refunds stemmed primarily from late submission of supporting paperwork, data mismatches, and filing errors by taxpayers requiring further verification.