FBR suggests increasing sales tax on petroleum products

ISLAMABAD (92 News) – The Federal Board of Revenue (FBR) has suggested the Finance Ministry to increase the sales tax on petroleum products. According to FBR officials, the sales tax on petroleum products should be increased in five months. The sales tax should be increased every month gradually, they said. There is no possibility of reducing the sales tax on petroleum products. The increase in oil prices in international market should be transmitted to the consumers. The decrease in sales tax in last six months has caused a loss of Rs 85 billion, they further said. Currently, there is 14.5% sales tax on petroleum products, 25.5% on high speed diesel and zero percent on kerosene oil.