Sales tax further increased on high speed diesel

KARACHI, February 17 (NNI): The Federal Board of Revenue (FBR) has raised sales tax on high speed diesel (HSD). 

In the past two months, FBR has already increased about 4 percent of sales tax rate on HSD.

The price hike of crude oil in the international market has had a similar effect on petroleum prices in Pakistan. Also, the revenue collecting body of the government has been constantly increasing taxes on petroleum products.

The hike in sales tax rate on HSD has now totaled up to 29.5 percent. It must be noted that FBR had already increased sales tax on diesel during past two months. NNI