ISLAMABAD, June 23,2022- The Federal Board of Revenue (FBR) said that a regulatory duty of 10% has been imposed on petrol.
According to the notification issued by the FBR, the regulatory duty will come into effect from June 30. The regulatory duty will not apply to cargoes whose LC has already been opened.
According to the notification, regulatory duty will not be applicable on petrol which has 10% customs duty.
Sources in the FBR said that the regulatory duty would enable the collection of tax on customs-free imports from China.
Shaukat Tareen hints another budget
Pakistan Tehreek-e-Insaf (PTI) leader and former finance minister Senator Shaukat Tareen said that the government is bringing another budget, as the International Monetary Fund (IMF) has told to impose additional taxes of Rs 440 billion.
Speaking in the Senate session, Shaukat Tareen said that another budget is coming, it will be the actual budget.