Karachi December 30 2021: Federal government has proposed to slash the rate of sales tax on import of petroleum crude product to zero percent through the Finance (Supplementary) Act, 2021 presented in the national assembly today.
Minister for Finance Shaukat Tarin today introduced the government’s supplementary finance bill for final approval in the National Assembly after it was approved by the Federal cabinet.
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In the previous budget government has imposed 17 percent sales tax on imported petroleum crude products that increase the cash requirement for the local refineries processing imported crude.
