Pakistan Revenue
In February 2023, Pakistan’s Finance (Supplementary) Bill 2023 introduced a significant excise increase for the tobacco industry, resulting in the highest-ever excise duty on tier-1 and tier-2 cigarette brands.
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The Federal Board of Revenue (FBR) did not meet its revenue collection target from cigarette sales in April 2023, despite the sharp increase in Federal Excise Duty (FED) on the tobacco industry through the mini-budget in February this year.
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On May 2, 2023, the Federal Board of Revenue (FBR) in Pakistan revoked its earlier notification SRO 178(I)/2023, which had massively increased federal excise duty (FED) rates on cigarettes.
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Despite a significant hike in taxes, Pakistan Tobacco Company announced a 38% surge in quarterly profit after tax on Tuesday.
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The Pakistani government’s attempts to reduce cigarette consumption by increasing the tobacco tax rate have been unsuccessful, as the prevalence of cheaper non-duty-paid (NDP) cigarettes in the market has led to continued consumption of illegal cigarettes. As a result, an estimated 32.6 billion illegal cigarettes are consumed out of a total consumption rate of 80 […]
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Sales of illicit cigarettes have surged following a massive tax hike on the legal cigarette industry, according to Philip Morris (Pakistan).
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Prime Minister Muhammad Shehbaz Sharif has directed for the installation of a trace and track system in all cigarette manufacturing units of the country within the next two weeks to combat tax evasion.
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ISLAMABAD: The Chairman of the Federal Board of Revenue (FBR), Asim Ahmad has said that the taxation structure on cigarettes is still the lowest in the region and does not meet the World Health Organization (WHO) criteria.
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KARACHI: Tax experts believed that newly imposed federal advance excise duty (FED) on tobacco purchase will not impact farmers but manufacturers and would dent the massive tax theft in the tobacco sector. They said that tax evaders are pressurizing the FBR through farmers for withdrawal of this major documentation measure and creating a false impression […]
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Experts believe that unchecked tobacco processing in green leaf threshing (GLT) plants is the root cause of massive tax evasion in tobacco sector. “At times when Pakistan is struggling to increase revenue, Government’s indifference towards tax evasion is incomprehensible,” according to an expert. Tobacco industry is one of the five industries which cause a loss […]
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