The Federal Board of Revenue (FBR) has reduced the sales tax rate on two petroleum products, effective from May 18, 2021, to keep prices of the petroleum products unchanged during May.
The FBR has amended S.R.O. 57(I)/2016 (sales tax on petroleum products) through a notification S.R.O. 726(1)/2021 issued on Tuesday.
According to 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 added that the standard rate of 17 percent will remain the same for Motor spirit and High-speed diesel oil for this month.