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Categories: Business

Cigarette Industry Earn Rs. 83.5 Billion in 5 Months From Pakistan

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The tax collection from the cigarette manufacturers increased 26% to Rs83.5 billion in the first half of 2022 as compare to the last year all because of Track and Trace System (TTS) introduced to check tax evasion in the tobacco sector.

The record was shared in a special meeting headed by PM Shehbaz Sharif to view measures taken to curb smuggling and tax evasion in the cigarette industry.

Finance Minister Ishaq Dar, Interior Minister Rana Sanaullah, Special Assistant to Prime Minister Tariq Bajwa, Federal Board of Revenue (FBR) chairman Asim Ahmed and senior officials were also present in the meeting.

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The Track and Trace System was introduced in the tobacco sector on July 1, 2021.

Whereas, no data was shared on whether there was a raise in the number of cigarettes due to tracking system.

Revenue grew is mainly because of two reasons the cigarette prices were increased besides a substantial increase in the Federal Excise Duty rates in the last budget.

Read: Private Agents (Non-FBR) Collect Rs.734 Billion Taxes in Last 5 Months in Pakistan

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