Sales tax on motor spirit reduced

ISLAMABAD: The Federal Board of Revenue (FBR) has reduced sales tax on motor spirit from 17 percent to 16.40 percent from July 6, 2021. The FBR has amended SRO 57(I)/2016 (sales tax on petroleum products) through a notification SRO 860(I)/2021, issued on Tuesday. According to the notification, the sales tax on kerosene oil would remain at 6.70 percent.

Sales tax on light diesel oil would continue to be charged at 0.20 percent. The notification said that the standard rate of 17 percent will remain the same for high-speed diesel oil for this month.

Copyright Business Recorder, 2021