NBR cuts advance tax on import of edible oil

The government decided to exempt 4 percent advance tax in a bid to keep prices of the essential commodity affordable to the consumers ahead of the holy month of Ramadan.

The VAT policy wing of NBR issued a Statutory Regulatory Order (SRO) on Sunday in this regard.Refiners has also been demanding withdrawal of AT to reign the price hike as well as to avoid complexities in obtaining refund.