Ministry hikes import tax on petrol by up to 4%

The Ministry of Finance issued yesterday a circular to ask petrol importers to follow the new import tariffs.

Under the new circular, import taxes levied on various kind of gasoline will be raised from their current 2 per cent to 4 per cent.

The circular also stipulates that import taxes on diesel fuel for cars will increase from 2 per cent to 3 per cent and other fuel will rise to 5 per cent. This circular took effect from yesterday and replaced the one from May 10, 2012.

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