Sunday, April 21, 2024

The FBR informs the public that the sales tax on petroleum products is being reduced

The FBR informs the public that the sales tax on petroleum products is being reduced

According to ARY NEWS, the Federal Board of Revenue (FBR) announced on Sunday that the sales tax on petroleum items will be reduced.

The sales tax on gasoline and high-speed diesel will remain unchanged, but the tax on kerosene oil and light diesel will be reduced, according to the notification released today.

The tax on kerosene oil was reduced from 9.15 percent to 6.7 percent, and the tax on light diesel was reduced from 2.74 percent to 0.2 percent.

It’s worth noting that this is the second time in a month that the federal government has announced a reduction in petroleum product taxes.

According to a notification, the sales tax on kerosene oil has been reduced to 10.07 percent from 15.44 percent previously. The light diesel sales tax was reduced from 7.56 percent to 3.67 percent.

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