Import tax rate of petrol reduced by 10 percent as of February 10

A new import tax rate of 25 percent will be applied to all imported petrol products as of February 10, replacing the current rate of 35 percent.

The announcement was released under a circular on guiding preferential import tax rates for certain products of category 2710, issued by the Ministry of Finance on February 5.

The move is considered as a support to importers in the context of difficulties in business activities. The price of oil is expected to increase in the coming time.

Accordingly, a new common tax rate of 25 percent will be applied to almost all types of petrol such as leaded and unleaded petrol, aircraft gasoline, white spritz, naptha, reformate and other materials used in petrol processing.

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