FBR has reduced sales tax on 2 petroleum products, effective from 18th May’21, to keep prices of the petroleum products unchanged during May’21. The FBR has amended SRO 57(I)/2016 (sales tax on petroleum products) through a notification SRO 726(1)/2021. The sales tax on kerosene oil has been reduced from 15.44% to 10.07% and from 7.56% to 3.67% on light diesel oil. The notification said that the standard rate of 17% will remain the same for motor spirit and high-speed diesel oil for this month.
9/6/2021