Abb Takk News

FBR Slashes Sales Tax On Petroleum Products

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday waived sales tax for five days as the Economic Advisory Council (ECC) will meet tomorrow (Thursday) to review the petroleum prices.

FBR has taken a massive step by waiving sales tax on petroleum prices for five days, official notification has been issued in this regard.

According to notification, FBR has waived the sales tax from 17 percent to two percent on petrol, on diesel the tax has been waived to 13 percent from 17 percent, on kerosene oil it has been waived to eight percent from 17 percent and on light diesel it has been reduced to 9 percent from 17 percent.

The new sales tax rates will be imposed until May 5.

However, a meeting of the ECC will be held tomorrow.