PESHAWAR: Federal Board of Revenue (FBR) has enhanced Federal Excise Duty (FED) rates by 50% replacing the fixed FED rates with already existing standard rate of 16 percent on tickets issued to passengers travelling aboard. National and domestic travelers flared at FBR after the decision of increase in FED on domestic and international flights.
The decision has arrived after the FBR efforts to meet the revenue target for FY 2014-15 set by Finance Ministry. The decision would boost the fares of national and international flights further.
As per the FBR source the Federal Excise duty of international flights increased from Rs6840 to Rs10, 000 for business class while for economy class travelers the increase will be from Rs3840 to Rs 5000.
Earlier, through SRO 47(I)/2012, for passengers boarding to or from Saarc countries, UAE, Middle East; Saudi Arabia, Africa, Afghanistan, the rate of FED was Rs 3,840 for economy and economy plus classes and Rs 4,340 for club, business and first classes. Moreover, for passengers travelling to or from Europe, Far East, China, United State of America, Canada, Australia, South America and others, the rate of excise duty was Rs 5,340 for economy and economy plus classes and Rs 6,840 for club, business and first classes.
PM directs petroleum minister to negotiate with refineries for diesel price relief
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed Petroleum Minister Ali Pervaiz Malik to immediately reach Karachi and hold negotiations...
