refund

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Related to refunds: Tax Refunds

refund

noun compensation, cut, discount, money back, payment for expenses, rebate, recompense, recoupment, reduction, refundment, repayment, replacement, restitution, return, satisfaction, settlement

refund

verb adjust, compensate, dissolvere, give back, honor a claim, indemnify, make amends, make commensation, make good, make restitution, pay back, rebate, recompense, reddere, redeem, reimburse, repay, replace, requite, restore, return, satisfy, settle, square
See also: bear the expense, compensate, consideration, defray, discharge, indemnify, indemnity, payment, quit, rebate, reciprocate, recompense, recoup, reimburse, reimbursement, remunerate, repay, replace, replacement, restitution, restore, return

TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid.
     2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies which they may have paid, or so much as may be necessary. to pay the debts of the testator; and in order to insure this, they are generally authorized to require a refunding bond. Vide 8 Vin. Ab. 418; 18 In Vin. Ab. 273; Bac. Ab. Legacies, H.

References in periodicals archive ?
Meanwhile, the income tax refunds between Rs100, 000 and Rs500, 000 for all years will be paid next month.
ISLAMABAD -- The first payment through FASTER module, against the refund claims for the tax period July 2019, has been made on 2nd September, 2019, and the State Bank of Pakistan (SBP) has confirmed the credit of the refund amount in the bank account of the claimant.
'Rs 1.7 billion of income tax refunds (up to Rs 1 Lakh) for all years to be released immediately,' he added.
ISLAMABAD -- The Federal Board of Revenue (FBR) has developed and placed a new software system in order to expedite the payments of refund claims that would help in addressing the refund claims of the business community in the country.
'Each product category presumptive sales tax refund will be calculated in advance and fed into Risk Management System (RMS) of the FBR.
Dubai: A tax refund company employee went on trial accused of stealing Dh70,000 this week.
The Government Accountability Office warned last summer that the number of tax filers who receive refunds was likely to drop for the 2018 tax year and the number of filers who owe money would rise.
Mian Nauman Kabir who also served as Chairman Quaide Azam Industrial Estate and Live stock Minister in caretaker government last year said that tax refunds of the exporters have been stuck for a long time for more than a year in most cases and now the government has announced issuance of promissory notes to liquidate these refunds which is a right step in the right direction.
He said that sales tax refunds of over Rs 125 billion belonging to the textile sector are pending with the government and the timely clearance of sales tax refund through promissory notes by the government would boost the business of the textile and allied industries.
Chua said these four reforms include setting up of a special trust account in the General Fund sourced from 5 percent of the total VAT collections of the Bureau of Internal Revenue and the Bureau of Customs from the immediately preceding year-to ensure money is available for VAT refunds-and basing revenue targets set for the next fiscal year on net of VAT refunds.
Peter Wallace, founder of the Wallace Business Forum, said such reforms are welcome news for enterprises as applying for VAT refunds used to take as long as nine years to claim.
New Delhi: GST refund claims worth Rs 91,149 crore have been issued so far to exporters by the Central Board of Indirect Taxes and Customs (CBIC), which are 93.77 per cent of total claims with the tax authorities, the Finance Ministry said.