VAT exemption for edible oil extended till Sept

The government has decided to extend the value-added tax (VAT) exemption facility for edible oil at the production and consumer level till September this year.

On Sunday (July 3), the National Board of Revenue (NBR) issued a notification announcing the decision.

The extension comes three months after the facility was first introduced in March by the government in a bid to cool off growing edible oil prices in the country.

The government on 14 March waived 20% value-added tax (VAT) on soybean oil at the production and consumer level till 30 June.

As per the latest development, the exemption will be in place till 30 September (three more months).