ISLAMABAD: The Federal Board of Revenue (FBR) has implemented a new system to collect sales tax from cement sector.
The board has fixed minimum retail price of cement for the collection of sales tax. The minimum retail price of cement will be according to the average price of the Bureau of Statistics.
The new price will be set according to the average price by the 1st and 16th of each month.
The minimum retail price for the cement sector will be implemented from May 1, 2025. The average price of a 50-kg bag of cement issued before May 1 is Rs1,410.
Earlier, Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial has directed the tax officials to utilize all their capabilities to bring transparency in work and increase revenue.
He has issued these directives while addressing a video conference with tax officials on Monday.
Following the directives of the Chairman FBR, a special meeting was held at the Regional Tax Office Peshawar under the chairmanship of Chief Commissioner Yasir Ali in which all Zonal Commissioners and Additional Commissioners participated.
