FBR clarifies about enhanced rate of FED on international air ticket

MG News | July 03, 2022 at 12:32 AM GMT+05:00

0:00

July 2, 2022: The Federal Board of Revenue (FBR) on Saturday clarified about enhanced rate of Federal Excise Duty (FED) on international air ticket.

The Federal Board of Revenue(FBR) has stated that Federal Excise Duty is chargeable on Club, Business and First class international air tickets under Section 3 of the Federal Excise Act, 2005, said a press release issued.

Furthermore, sub-rule(8) of the rule 41A stipulates that FED is chargeable at the time of issuance of air tickets.

Thus, the enhanced rate of FED on air tickets under the new finance bill 2022 will be chargeable only on international tickets(Club, Business & First class) issued on and after 1st July, 2022.

FBR has further clarified that as federal excise duty is chargeable at the time of issuance of air tickets,therefore,the enhanced rate of federal excise duty at Rs.50,000 (previously Rs.10,000) is not applicable on the Club, Business & First class international air tickets already issued before 1st July,2022.

Press Release

Related News

Name	Price/Vol	%Chg/NChg
KSE100	135,939.87 307.74M	-0.41% -562.67
ALLSHR	84,600.38 877.08M	-0.56% -479.52
KSE30	41,373.68 101.15M	-0.43% -178.94
KMI30	191,069.98 82.45M	-1.17% -2260.79
KMIALLSHR	55,738.07 422.01M	-1.03% -577.24
BKTi	38,489.75 45.79M	-0.02% -8.33
OGTi	27,788.15 6.87M	-1.24% -350.24

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	116,840.00	120,695.00 116,090.00	-3395.00 -2.82%
BRENT CRUDE	68.85	69.41 68.60	-0.36 -0.52%
RICHARDS BAY COAL MONTHLY	96.50	96.50 96.50	0.50 0.52%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.25	-2.05 -1.92%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.71	67.13 66.22	-0.27 -0.40%
SUGAR #11 WORLD	16.56	16.61 16.25	0.26 1.60%