business
Monday Sep 20 2021
By
BDBusiness Desk

FBR revises sales tax on petroleum products

By
BDBusiness Desk
Last week, the government increased the price of petrol by Rs5. Photo: Reuters
Last week, the government increased the price of petrol by Rs5. Photo: Reuters

  • FBR slashes sales tax on high-speed diesel to 11.64%.
  • Keeps sales tax on petrol unchanged at 10.54%.
  • Sales tax on kerosene and light-diesel will also remain unchanged.


ISLAMABAD: The Federal Board of Revenue (FBR) on Monday revised the sales tax rates on petroleum products.

According to an SRO issued by the revenue board, sales tax on high-speed diesel has been slashed from 17% to 11.64%.

Meanwhile, sales tax on petrol has been kept unchanged at 10.54%.

The FBR further notified that sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively.

Last week, the government jacked up the price of petrol by Rs5 "owing to the fluctuations in petroleum prices in the international market and exchange rate variation".

Petrol, with an increase of Rs5, is now available at Rs123.30 per litre, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per litre.

In addition, the cost of kerosene is Rs5.46 more and is thus priced at Rs96.26 per litre, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per litre.