FBR Detects Multi-Billion Rupee Tax and Levy Shortfall by Major Oil Companies, Including PSO
LAHORE: The Federal Board of Revenue (FBR) has detected an alleged shortfall amounting to nearly Rs10 billion in customs duties and petroleum-related levies payable by seven major oil companies, including Pakistan State Oil (PSO), and has issued notices seeking payment of the outstanding amounts.
According to documents received by Express News, the companies allegedly failed to deposit the full amount of customs duty, petroleum levy, and climate levy into the national exchequer based on their reported sales and imports of petroleum products.
The FBR issued notices along with detailed statistics of imported petroleum products, stating that the amount of petroleum levy, climate levy, and customs duty deposited did not correspond with the quantities of petroleum products unloaded at the companies’ respective oil depots.
The total amount identified by the FBR as outstanding stands at Rs9,999,529,928.
According to the notices, Pakistan State Oil (PSO) has been asked to pay Rs8,198,079,738. Puma Energy and Pak-Arab Pipeline Company have been asked to pay Rs135,339,806 in customs duty, petroleum levy, and climate levy. Hi-Tech Lubricants has been directed to deposit Rs116,753,065, while B Energy Limited has been asked to pay Rs250,663,663. Taj Gasoline has been issued a notice for Rs260,467,404, and Gas & Oil Pakistan Limited has been directed to deposit Rs222,226,252.
The FBR has warned that legal action will be initiated under the applicable laws if the companies fail to submit timely responses or deposit the outstanding amounts.
The matter remains subject to legal and administrative proceedings, and the notices represent the FBR’s preliminary findings regarding the alleged shortfall in payments.
