Govt Reduces Sales Tax on Petrol

The federal government has reduced the sales tax rate on MS petrol. According to the notification by the Federal Board of Revenue (FBR), the government slashed the sales tax rate on MS petrol by 5.63 percent with effect from 16 July 2021. ALSO READ FBR Relaxes Conditions For Import/Export Customs Clearance The sales tax rate on MS petrol has been reduced to 10.77 percent from 16.40 percent prior to 16 July. ALSO READ SECP’s Internal Letter Reveals Details of Investigation into Hascol Petroleum The notification mentioned that the sales tax rates have not been changed on high-speed diesel oil, kerosene, and light diesel oil which are 17 percent, 6.70 percent, and 0.20 percent respectively.