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February 28, 2020

Domestic sales tax up 33pc till Feb

Business

February 28, 2020

KARACHI: The Federal Board of Revenue (FBR) on Thursday said domestic sales tax revenue grew 32.5 percent up to February 2020.

“Overall growth of sales tax is 24 percent, which is in line with performance, up to January of 24.6 percent,” the FBR said in a reply to a report, mentioning “double-digit drop in sales tax collection clouds revenue outlook”.

The report, we regret, couldn’t completely reported that there was a double-digit decline in sales tax collection from key economic sectors, namely oil marketing companies, iron and steel and automobile.