Daily Times
June 28, 2021
In order to ensure availability of fuel at lower rates, the Federal Board of Revenue (FBR) has announced reduction in sales tax rates on supply of some petroleum products.
However, the sales tax rates on petrol and high speed diesel (HSD) has been kept unchanged at 17 percent. According to the people familiar with the development, the sales tax rate on petrol and high diesel oil has not been reduced because the government had not passed on the actual increase in petroleum products prices to the general public. The FBR has issued SRO 807(I)/2021 in this regard to notify the reduction in sales tax on different petroleum products. According to the SRO, the sales tax rate on kerosene oil has been reduced to 6.7 percent from 9.15 percent. Similarly, sales tax on light diesel oil has been reduced to 0.2 percent from 2.74 percent.
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