Four petroleum products: FBR imposes standard rate of 17 percent ST

The Federal Board of Revenue (FBR) has imposed standard rate of 17 percent sales tax on four petroleum products including motor spirit from January 1, 2019. According to an SRO 1574(I)/2018 issued by the FBR, sales tax on motor spirit has been increased from 8 percent to 17 percent; high speed diesel oil 13 percent to 17 percent; kerosene oil 2 percent to 17 percent and sales tax on light diesel oil has been increased from 0.5 percent to 17 percent.