Miftah suggests value addition tax exemption on LNG import

ISLAMABAD: Finance Minister Dr Miftah Ismail Friday suggested value addition tax exemption on Liquefied Natural Gas (LNG) import for providing relief to the petroleum sector.

Presenting federal budget for 2018-19, he said value addition tax, which is chargeable at the rate of 3pc under Sales Tax Special Procedure Rules, 2007, may be removed.

He also proposed to reduce the rate of sales tax from 17pc to 12pc on import of LNG and supply of RLNG.