FBR raises minimum sales tax valuation of specified steel scrap from 55% to 60%

FBR has set a higher tax-assessment floor for a defined category of recycled metal supplies, Profit by Pakistan Today reported. Under a notification dated November 5, the minimum taxable supply value is now 60% of the steel-bar benchmark, up from 55%.

The change covers heading 72.04 material sold by an Export Facilitation Scheme-authorised recycled-copper manufacturer-exporter directly to a registered steel melter. The benchmark is based on monthly PBS retail steel-bar prices in six cities, less Rs1,500 per metric tonne. This alters the value used to calculate sales tax, not the applicable tax rate, and revises a valuation framework introduced in 2025.