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Budgets: SROs-Sales Tax

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The sales tax on supply of cottonseed shall be levied and collected on the basis of quantity supplied, or consumed in-house for expelling of oil by composite cotton ginning units. The FBR has issued special procedure for sales tax on cottonseed oil expelled by oil expelling mills and composite units of ginning and expelling through SRO 188(l)/2015 issued, here on Friday.

The Federal Board of Revenue (FBR) has decreased sales tax from 27 to 18 percent on the import and local supply of motor spirit including High Octane Blending Component (HOBC); Kerosene oil and light diesel and raised sales tax from 27 percent to 37 percent on high speed diesel oil from March 1. The FBR has issued SRO.175 (I)/2015 here on Monday to change sales tax rates to minimise the increase in petroleum prices.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln