Tag: cigarette
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Pakistan Tobacco Company fears surge in smuggling, fake cigarette supply after tax hike
Pakistan Tobacco Company (PTC) has expressed serious concern over the recent mini-budget announcement, stating that new taxes on cigarettes will result in an increase in smuggling and counterfeit products in markets. Speaking to the media on Friday, PTC’s Director Legal and External Affairs, Syed Asad Shah, explained that the increase in federal excise duty (FED)…
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Saying ‘qabool hai’ just got more expensive: Mini-budget proposes increased tax rates on weddings, related events
The Finance (Supplementary) Bill, 2023 proposes to reintroduce advance tax on functions and gatherings, requiring a tax withholding of 10 per cent for filers and 20 per cent for non-filers. The tax rate will be applied to the total amount of the bill from the individual or entity hosting the function, whether it is in…
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Govt imposes Rs36 billion additional tax on cigarettes, tobacco processing to revive IMF programme
The government has issued an ordinance to impose an additional Rs36 billion tax on cigarettes, an additional Rs2 billion tax on the processing of tobacco, and lowered charges on transportation vehicles in order to raise an additional Rs38 billion in taxes. According to Geo, tier-1 brand cigarettes may see a price increase of Rs20 to…
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PANAH suggests tobacco taxes be raised even higher
Pakistan National Heart Association (PANAH) has proposed that the government increase tariffs on unnecessary and harmful tobacco products. Increased tobacco-related levies will lessen diseases and healthcare expenses while also helping to generate tax revenue. Sanaullah Ghumman, PANAH’s General Secretary, announced this at a news conference held by the Pakistan National Heart Association on Wednesday at…
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Pakistan faces Rs615 billion annual deficit due to tobacco consumption
Pakistan has a substantial Rs615 billion annual deficit owing to diseases caused by smoking and overall tobacco usage, with only Rs120 billion earning in tax revenue from the product. The government is expected to improve revenue by raising the tax on cigarettes by 30 per cent according to The Nation. This was voiced by speakers…
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Tobacco companies in Pakistan may bump cigarette prices
Farmers have asked the government and firms to increase the price of future tobacco products in accordance with the current price hikes in pesticides, fertilisers, and other crop preparation and selling charges. On May 9, the demand was made at a meeting of Ittehad-e-Kashtkaran in Khyber Pakhtunkhwa. The participants agreed that the government should reduce…