Fuel could get expensive as FBR seeks greater sales tax

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to enhance sales tax rates on petroleum products, including Liquefied Natural Gas (LNG), in the upcoming budget. The country’s tax authority aims to maintain a sustained source of revenue generation in the upcoming year and sales tax on petroleum products remains the top revenue generator for the FBR.

However, the government might be reluctant to approve the unpopular proposal, especially due to next year’s elections. Additionally, the proposal may end up increasing inflation beyond the projected level, with the World Bank already stating that crude oil prices will surge by 28% in 2017.

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