Slab three on cigarettes caused Rs60bln loss
From Our Correspondent
ISLAMABAD: The Federal Board of Revenue (FBR) officials admitted before Senate Special Committee that national exchequer has faced Rs.60 billon loss own to third slab on cigarettes.
Committee has also informed the consumption of cigarettes has also increased in the country.
The meeting of senate special committee was held yesterday under the chairmanship of Senator Kalsoom Parveen.
During the meeting FBR officials told the committee that in 2017 tax of Rs 74 billion from tobacco sector. Moreover, in 2018 Rs 88 billion tax had received from this sector.
On this Senator Kalsoom Parveen replied that less revenue had received from tobacco sector in 2017, what is the reason of this, she questioned.
FBR officials told the committee that Rs.33 tax has imposed on one cigarette pocket and in 2016 cigarettes scale remained very low large quantity of fake cigarette circulated in the market.
On this Senator Kalsoom Parveen said that it was incompetency of FBR that fixed revenue target not achieved.