RECORDER REPORT

ISLAMABAD: The Federal Board of Revenue (FBR) has reduced sales tax on two petroleum products, effective from May 18, 2021, to keep prices of the petroleum products unchanged during May.

The FBR has amended SRO 57(I)/2016 (sales tax on petroleum products) through a notification SRO 726(1)/2021, issued on Tuesday.

As per the notification, the sales tax on kerosene oil has been reduced from 15.44 percent to 10.07 percent and from 7.56 percent to 3.67 percent on light diesel oil.

The notification said that the standard rate of 17 percent will remain the same for motor spirit and high-speed diesel oil for this month.