Diesel import: Advance tax withdrawn, tariff cut to 5%

The government has slashed import taxes on diesel imports to 5 percent from the existing 10 percent and withdrawn all advance taxes.

The Internal Resources Division of the Ministry of Finance issued a gazette notification in this regard on Sunday.

The new duty structure will be effective immediately and remain effective till the end of this year, the notice said.

The advance tax on diesel imports was 2 percent.

The order will be applicable to the import of light diesel oil and high speed diesel oil.