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The Ministry of Finance has decided to raise the petrol import tax rate from the current 10 percent to 15 percent for shipments having customs papers declared as of Jan. 10.
The import tariff on petroleum for the aviation industry will be maintained at 10 percent while that on soot production materials and base oil to make lubricants and grease will be raised to 10 percent from the current 5 percent. The import tax of used oil containing polychlorinated biphenyl and a number of other used oils will be 20 percent.
The ministry added that the Government decided not to subsidise petroleum losses but to adjust the import tax rate.
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