Desk Report
Published: 11 Apr 2021, 05:58 pm
The National Board of Revenue (NBR) has withdrawn advance tax from imported unrefined soybean and palm oil.
The government decided to exempt a 4 percent advance tax in a bid to keep prices of the essential commodity affordable to the consumers ahead of the holy month of Ramadan.
The VAT policy wing of NBR issued a Statutory Regulatory Order (SRO) on Sunday in this regard.
Refiners have also been demanding withdrawal of AT to reign the price hike as well as to avoid complexities in obtaining a refund.