FBR hikes sales tax rates on petroleum products
The Federal Board of Revenue (FBR) has issued a notification, SRO 1579(I)/2021, announcing revisions in the sales tax rates on various petroleum products, excluding petrol.
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Tag: sales tax
Industry protests over 20% additional ST on electricity
KARACHI: Industry has strongly protested over imposition of 20 per cent additional sales tax on supply of electricity and said it will destroy the industrial activities and result in mass unemployment. Faisal Moiz Khan, President, North Karachi Association of Trade & Industry (NKATI) in a statement on Saturday expressed deep concerns over the imposition of 20 […]
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Sales tax on petrol slashed to 6.84%
In a move aimed at providing relief to consumers, the federal government has announced a reduction in the sales tax rates on the supply of petrol and high-speed diesel (HSD).
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Sales tax on high speed diesel reduced by 31.5%
ISLAMABAD: The federal government has announced a reduction of sales tax rate by 31.5 per cent on supply of High Speed Diesel (HSD). The rate sales tax on HSD has been reduced in order to lower the impact of higher prices pass on to the consumer. The Federal Board of Revenue (FBR) issued SRO 1225(I)/2021 […]
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FBR slaps extra sales tax up to 17% on unregistered persons
In a move to enhance tax compliance, the Federal Board of Revenue (FBR) has imposed an additional sales tax of up to 17% on unregistered industrial and commercial connection holders of electricity and gas utilities.
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Sales tax exemption granted to medical equipment
The Federal Board of Revenue (FBR) has granted sales tax exemption on the import of essential medical equipment. The FBR issued SRO 1007(I)/2021 on Monday, listing a comprehensive array of medical goods that will be exempted from sales tax, aiming to facilitate the procurement and availability of critical equipment.
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FBR reduces sales tax rate on petrol to 10.77%
In a move aimed at providing relief to consumers, the Federal Board of Revenue (FBR) has announced a reduction in the sales tax rate on the supply of petrol. The new rate, effective immediately, is set at 10.77%, down from the previous rate of 16.40%.
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FBR prescribes minimum output of steel products for sales tax payment
ISLAMABAD: The Federal Board of Revenue (FBR) has prescribed minimum production of steel products for payment of sales tax under Thirteenth Schedule of Sales Tax Act, 1990. According to Finance Act, 2021 an amendment has been made to Section 3 of the Sales Tax Act, 1990 in respect of goods, specified in the Thirteenth Schedule, […]
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Budget 2021/2022: sales tax on sugar to be imposed on retail price
ISLAMABAD: The government has announced to bring sugar in the third schedule of Sales Tax Act, 1990 to impose sales tax on actual retail price. Finance Minister Shaukat Tarin while presenting budget 2021/2022 on Friday announced inclusion of sugar in the third schedule. He said that sugar, although not a staple food, is still a […]
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Budget 2021/2022: Tax imposed on sales made through online marketplace
ISLAMABAD: The domestic sellers on online platforms like Amazon and Daraz have been brought into tax net, Finance Minister Shaukat Tarin announced this while presenting budget 2021/2022 on Friday. “We have seen extraordinary sales through online marketplaces especially due to Covid-19 lockdowns.” However, contribution made by these e-commerce digital platforms in national exchequer is negligible, […]
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