FBR issues values of minerals for tax collection

FBR issues values of minerals for tax collection

ISLAMABAD: Federal Board of Revenue (FBR) has notified values of minerals for collection of advance tax at the time of extracted, produced, dispatched and carried away from the licensed or leased areas of the mines.

The FBR issued SRO140(I)/2020 dated March 02, 2020 for notifying values of minerals to collect advance tax at the rate of five percent. The tax is applicable only on those persons not on the active taxpayers list (ATL).

The FBR inserted Rule 231I for values of minerals for the purpose of sub-section 4 of section 236 of the Income Tax Ordinance, 2001:

The values are:

S.No.Name of mineralRate per metric tonne (in Rupee)
(1)(2)(3)
01Argilacoeous clay500
02Asbestos4875
03Antimony11700
04Agglomerate6500
05Barite6500
06Basalt9100
07Bentonite3900
08Bauxite4550
09Bajri780
10Brine/salt570
11Barytes875
12Ball clay875
13Coal5000
14Clay1625
15China Clay625
16Calcite1300
17Celestite1625
18Conglomerate1950
19Chromite18750
20Chalk2500
21Dolomite2250
22Diorite6500
23Flourite10400
24Fullers Earth1300
25Fire Clay1300
26Gypsum1950
27Granite13000
28Gabro stone9750
29Granodiorite9750
30Gravel750
31Iron ore5200
32Limestone (for manufactures of cement)4500
33Limestone (other than cement factory)1500
34Laterite815
35Lake salt875
36Marble onyx16250
37Magnesite3900
38Marble (other than onyx)3900
39Manganese5200
40Ochre/ red ochre3900
41Ordinary stone910
42Pumice1950
43Quartz3900
44Quardzite3250
45Rock salt875
46Silica sand4500
47Sulphur3900
48Soap stone5250
49Serpentine3250
50Shale (cement industry)2500
51Sand650
52Shale750
53Slate Stone1875
54Sandstone750
55Tar sand490
56Tufff1625

The FBR said that advance tax shall be collected by the provincial authority or a person authorized by the provincial authority to collect or recover royalty on minerals excavated and transported from leased area.

The FBR further said that where a person having authority to collect or recover royalty on behalf of the provincial authority:

(a) fails to collect tax as required; or

(b) having collected tax fails to pay the tax to commissioner as required under Section 160

the person having authority to collect of recover royalty as well as provincial authority shall be jointly and severally liable to pay the amount of tax to the commissioner who may pass an order to that effect and proceed to recover the same.

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