In response to a record spike in sugar prices, the federal government has authorised a tax exemption on the import of 500,000 tonnes of sugar.
According to specifics, the Federal Board of Revenue (FBR) has published a notice that exempts the private sector from paying taxes on imported sugar till September 30, 2025.
The notification states that the 3% value-added tax has been eliminated and that the sales tax on imported sugar has been lowered from 18% to 0.25.
Following the widespread export of sugar, which raised domestic prices, this decision was made. Now, the government was trying to increase imports to make up for the consequent shortage.
