FBR revises sales tax on petroleum products
The Federal Board of Revenue (FBR) on Monday revised the sales tax rates on petroleum products. According to an SRO issued by the revenue board, sales tax on highspeed diesel has been slashed from 17% to 11.64%.Meanwhile, sales tax on petrol has been kept unchanged at 10.54%.The FBR further notified that sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively.
Last week, the government jacked up the price of petrol by Rs5 "owing to the fluctuations in petroleum prices in the international market and exchange rate variation".Petrol, with an increase of Rs5, is now available at Rs123.30 per litre, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per litre.
In addition, the cost of kerosene is Rs5.46 more and is thus priced at Rs96.26 per litre, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per litre.
Meanwhile Traders have announced to stage a protest demonstration against promulgation of a presidential ordinance to impose additional taxes and forcing sales tax registration of traders outside the Finance Ministry in Islamabad on September 27, media reported.
Addressing a press conference on Sunday, Markazi Tanzeem Tajran Pakistan President Muhammad Kashif Chaudhry said, "The traders will surround the premises of the Ministry of Finance on September 27 to register their protest." He maintained that traders from across the country would reach Islamabad to register their protest against the imposition of new taxes, forcing registration of traders and installation of point of sale machines. He said that promulgation of the presidential ordinance regarding new taxes was not acceptable in presence of the Parliament.
Karachi traders register strong protest against Sindh's decision to extend coronavirus curbs "Neither the government brought this issue of taxes in the Parliament nor it consulted the traders' community," Kashif Chaudhry said. He questioned as to where the economic policies were being formulated when the Parliament and the traders' community are not consulted or taken into confidence. He told newsmen that prior to gathering in Islamabad, they would also hold a national traders convention in Multan on the 23rd of this month. President of Markazi Tanzeem Tajran, Sharjeel Mir, Malik Zaheer, Malik Rizwan, Chaudhry Sajid Iqbal, Sajjad Abbasi and others were also present on the occasion. Kashif Chaudhry recalled that the government agreed with them on the constitution of committees with the representation of traders' communities, bringing the rate of turnover tax at 0.25%, abolishing withholding tax gradually and to reduce sales tax to 17% but no promise had been fulfilled.
Meanwhile Azad Jammu and Kashmir (AJK) Prime Minister Sardar Abdul Qayyum Niazi urged upon the international community to play their role for early resolution of the long-Standing Kashmir issue for ensuring emergence of lasting and durable peace in the region.
The prime minister made these remarks during a meeting with the Federal Minister for Kashmir Affairs Ali Amin Gandapur held in the federal metropolis. He said Prime Minister of Pakistan Imran Khan has been projecting the Kashmir issue at International level effectively and inviting the attention of the international community towards gruesome human rights violations and systematic killings of Kashmiris at the hands of brute Indian forces Over the globe in Illegally Occupied Jammu and Kashmir (IIOJK).
Referring to the development of AJK, he said the government was taking revolutionary steps for the welfare of the people in accordance with the vision of the Prime Minister of Pakistan.