Due to this taxon petrol and edible oil, their prices reached the highest level in the history of the country.
The government collected one-third of the taxes levied on imported goods during the first two months of the current financial year from imports of petrol and edible oil, amounting to Rs 149 billion.
The tax collected from oil and edible oil imports is 132% higher than the tax collected on these items during the same period last year. During the same period last year, Rs 64 billion was collected from petrol and edible oil imports. was done.
Due to this taxon petrol and edible oil, their prices have reached the highest level in the history of the country. The depreciation of the rupee against the dollar has also led to an increase in prices. The approval was given by the Prime Minister himself.
The increase in customs duty on petroleum products by the government has also pushed up their prices. A 17% sales tax has been levied on crude oil imports and the customs duty on petrol has also been increased from 5% to 10%.
Similarly, tax rates on palm oil imports have also been increased. The poor and middle classes are being badly affected by the high cost of these commodities. Pakistan’s imports are also increasing rapidly due to various factors.
The SBP has estimated imports at 61 61 billion for the current financial year, but the Commerce Ministry is estimating 72 72 billion. The trade deficit has reached 2. 2.3 billion in the first two months of the current financial year.
During July-August, the government collected Rs 28.6 billion in petrol imports and excise taxes, which was 80 per cent or Rs 12.8 billion more despite the reduction in petrol imports. Rs 12.1 billion in customs duties on petrol imports. Done
According to FBR data, gas was the second largest item in terms of imports, which collected Rs 25.6 billion in taxes, an increase of Rs 16.8 billion or 190 per cent over the same period last year.
More than Rs 22 billion tax was collected from crude oil imports, of which revenue from sales tax was Rs 18.6 billion. Rs 17.5 billion tax was collected from high-speed diesel. Are also becoming more expensive.
The government also collected Rs 12.2 billion from coal imports during the two months. Rs 12.1 billion was also collected from imports of palm oil for edible oil in the form of taxes. Litres have been reached.
The government has also collected Rs 11.8 billion in taxes from the import of furnace oil in two months, which is Rs 9 billion more than the same period last year.