Abb Takk News

FBR Reduces Sales Tax on Petroleum Products

ISLAMABAD: A notification has been issued to reduce sales tax on petroleum products. The sales tax on kerosene has been reduced from 17% to 15.44% while the sales tax rate on petrol and high speed diesel has been maintained at 17%.

The Federal Board of Revenue has issued a notification to reduce sales tax on petroleum products. According to the notification, sales tax on kerosene has been reduced from 17% to 15.44% while sales tax on light diesel has been reduced from 17% to 7.56%. The sales tax rate on petrol and high speed diesel has been maintained at 17%.

According to FBR officials, the tax cuts were made to maintain the current prices of petroleum products. The notification will take effect on May 1, 2021