VAT exemption on edible oil extended till April 30

VAT exemption on edible oil extended till April 30

0 minutes, 32 seconds Read

Earlier, on October 4 last year, the NBR had imposed a cap on all types of refined edible oil at the production and supply level to stabilize the prices of soybean oil and palm oil in view of the increase in refined and non-refined edible oil prices in the international market. VAT exempted. ,

Earlier, on March 16 last year, NBR had reduced VAT on non-refined soybean oil and refined palm oil from 15 per cent to 5 per cent.

Currently, there is an annual domestic demand of 2 million tonnes of edible oil, of which 200,000 tonnes is met internally while the rest is met through imports of soybean oil and palm oil.

277 Total Views 1 Views Today
Spread the love

Similar Posts