Govt likely to review fuel tax, PWC
Tax experts see the government walking back on the proposed increase in fuel tax after consultations with stakeholders, a trend seen over the past few years when the tax faced huge opposition on the impact of higher petroleum prices on cost of living. In a bid to increase the revenue collection, the Government has proposed in the Finance Bill, an increase in the rates of various tax heads such as Value Added Tax (“VAT”) on petroleum products, which has been increased from 8 percent to 16 percent. Value added tax on fuel introduced over a decade ago has been a very contentious tax that has…
Read More