The Federal Board of Revenue (FBR) has increased sales tax on motor spirit and high speed diesel oil from January 16, 2017. Explaining the SRO 21(I)/2016 issued by the FBR here on Sunday, sources said that the sales tax on motor spirit has been increased from 14.5 percent to standard rate of 17 percent. The motor spirit has been excluded from the table of petroleum products specified in the SRO 21(I)/2016. The exclusion of motor spirit from SRO 21(I)/2016 has brought this POL product under the standard rate of sales tax ie 17 percent.
According to an SRO 21(I)/2016 dated January 15, 2017, sales tax rate on kerosene would remain at zero percent from January 16, 2017.
Sales tax on high speed diesel oil has been increased 25.5 percent to 28 percent, reflecting an increase of 2.5 percent. Sales tax on light diesel oil would remain at zero-percent, notification added.
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