Tax on sales of oil crude oil and sugar beet imports and domestic deliveries

To produce maximum income from import and regional supplies on 1 July 2021, the government has decided to impose the import and supply, by 17%, of crude oil and sugar beet, of local sales tax.

The income creation measures were included in the Finance Bill 2021. The import of crude oil is now free from the sales tax and is zero.

At the importation stage and local supply, the government will abolish the sales tax exception and apply a 17 percent sales tax. This is an important income-generating measure for the 2021-22 budget on the sales tax side.

The Sales Tax Exemption, including cooking oil, is revoked from the import and local supply of food oils and vegetable ghee. However, culinary oils and plant ghee, including cooking oil, would be subject to just 17 percent sales tax or 17 percent excess duty to ensure that taxes are not replaced.

The government will repeal the 5% excise duty (FED) on local juices and charge the import of fruit juices 17 percent of sales tax (fresh, frozen, or preserved, excluding bottled, canned, or packaged ones).

By applying a 17 percent sales tax on specific items/supplies, the sales tax relief for the aviation/shipping sector will be removed.

Sources have reported that a sales tax of 17% on imports of numerous dairy goods has also been determined by the administration.