The Federal Board of Revenue (FBR) has abolished 16 percent Federal Excise Duty (FED) on advertisement in periodicals from February 13, 2010. According to an SRO 81(I)/2010 issued on Tuesday, the duty collected from July 1, 2009 till the date of issuance of this notification shall be deposited into the government treasury.

In order to help local newspaper industry and strengthen the independent news media in the country, federal excise duty levied on advertisements in periodicals during budget 2009-10 has been withdrawn.

Copyright Business Recorder, 2010