| GEO Business|
| Govt slashes Sales Tax on sugar by 50pc|
| Updated at: 0235 PST, Monday, August 24, 2009|
ISLAMABAD: The government has announced to charge sales tax at the rate of eight per cent on local supplies of sugar by slashing Sales Tax by 50 percent, says a press release issued by FBR here on Sunday.
The announcement has been made following issuance on Sunday of SRO (1)/2009 whereby "sales tax on local supplies of sugar shall be charged at the rate of eight per cent with immediate effect and until further orders".
Previously, the government was charging 16 percent Salex Tax at the rate of RS29/kg, which has now been cut off to 50 percent.
According to the FBR, Rs4.53/kg were being received as Sales Tax on sugar, which will be reduced to Rs2.25/kg.
The FBR press release said the notification will come into force with immediate effect until further orders.