ISLAMABAD: Federal government has decide to increase rate of sales tax on petrol and diesel to generate more revenue.
Federal Board of Revenge on Friday issued a notification stated that sales tax on petrol will be increased to 20 percent from 18 percent and 34 percent on high speed diesel from 32 percent. The new tax rate will effect from May 1st.
FBR said that 68 billion rupees revenue decreased in this fiscal year from sales tax on petroleum products due to declining oil prices.
