Tax rates on petroleum products during tax year 2022

The income tax rates on petroleum products for tax year 2022 under Second Schedule of Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following are the rates of income tax on petroleum products: Rate of collection of tax under section … Continue reading Tax rates on petroleum products during tax year 2022