2024-07-05 21:21:44
(24News) The federal government has also issued a notification to abolish advance tax after a one-day strike by the Pakistan Petroleum Dealers Association.
Soon after the Federal Board of Revenue (FBR) announced the postponement of the strike by the petroleum dealers, the advance tax levied on the petroleum dealers has been abolished and a notification has also been issued.
The DG Oil of the Federal Ministry of Energy (Petroleum Division) sought clarification from the FBR as dealers, retail outlets (petrol pumps) operate on fixed dealer margins set by the government and hence this sector is subject to regulated prices. The FBR was asked by the Federal Ministry of Energy that the amendment in Section 156A of the Petroleum Dealers Income Tax Ordinance, 2001 is causing unnecessary hardship to the petroleum dealers.
On a clarification sought by the Directorate General of Oil, it has been clarified that the provisions of levy of tax under section 236H ibid are not applicable to dealers, retail outlets of OMCs as the income of such person is subject to final tax under Sec. It comes within the scope of the system.
Meanwhile, Chairman of Pakistan Petroleum Dealers Association Abdul Sami Khan welcomed the FBR’s notification of abolition of zero-indexed five percent advance turnover tax on petroleum dealers. It has become possible due to the successful strike. He said that the FBR has accepted our legitimate demand, after which a few dealers who failed the strike of petroleum dealers are trying to take credit for this success.
Earlier, the petroleum dealers had announced the postponement of the ongoing strike on Friday, saying that the urgent decision has been taken due to the stranded tourists in the northern areas. These are the people who are tourists, we are postponing the strike, our one-day strike today has been successful. Abdul Sami Khan had said that we will not sit silently, we will also surround Islamabad if the demand is not accepted.
2024-07-05 21:21:44