Additional revenue measures of up to Rs150 billion expected in upcoming mini-budget: Report

The brokerage house said the hike in interest rate by 425 basis points and rupee devaluation of 24% since December 2017 have cumulatively increased annual debt servicing requirement of government by Rs700-800 billion

Legal cigarette sales decline 7.4% in 2017: Oxford Economics

According to the report, actual government revenues were estimated to have increased by 8.3 per cent in fiscal year 2017/18, underpinned by an acceleration in legal domestic sales, which rose by an estimated 73.9% over the same period

NAB to expand investigation into Rs60 billion tax evasion by cigarette industry

The Auditor General of Pakistan (AGP) office said the cigarette industry was involved in tax evasion to the tune of Rs33 billion

Legit manufacturers demand govt to restrict sale of illicit cigarettes

Most of these illicit cigarettes having approximately 35% market share are produced in Azad Kashmir and Khyber-Pakhtunkhwa claimed the stakeholders

NAB widens investigation into lower tax collection from tobacco sector

The introduction of the three-tier tax system for the tobacco industry resulted in a massive fall in tax revenue collection of Rs33 billion, which is a major contributor to the public exchequer

Senate body demands report from FBR over tobacco revenue shortfall

ISLAMABAD: A special committee of the Senate on the decline in tax collection from the tobacco industry has sought a report in 15 days...

PTC cautions its sales will be impacted, if govt restores two-tier tax system

According to the formal sector, the creation of the third-tier helped to dent illicit cigarette trade from 41.2 percent to 33.3 percent in a span of one year

Senate Committee gives FBR a fortnight to report on tax collection decline from tobacco

Present on the occasion, the FBR officials said, decline in tax collection was because of fake and illegal (smuggled and non-custom paid) cigarettes

Senate panel to take up declining tobacco revenues in meeting today

ISLAMABAD: The Senate Special Committee on the causes of declining tax revenues from the tobacco sector is scheduled to be held today (Wednesday). Sources in...

NAB asks FBR for assistance in investigation against declining revenues from tobacco sector

ISLAMABAD: The National Accountability Bureau (NAB) has asked the Federal Board of Revenue (FBR) to appoint a focal person for assistance in an on-going...

Revenue from cigarette industry surges by Rs88.54bn in 2017-18

KARACHI: On a report of the Public Accounts Committee (PAC) submitted on May 23, the National Accountability Bureau (NAB) has initiated an investigation against the...

Cigarette manufacturers fail to comply with health ministry’s directives

A recently conducted market survey has identified that a majority of the brands of local cigarette manufacturers in Pakistan are still non-compliant with the latest Pictorial Health Warning (PHW) law

Health ministry launches crackdown against violators of PHW on cigarette packs

ISLAMABAD: Taking a strong exception to the availability of cigarette packets with no Pictorial Health Warning (PHW) or having PHW less than 50 per...

Pakistan Tobacco Company announces Rs2.9 billion Q2 profit

LAHORE: Pakistan Tobacco Company (PTC), in a notification issued to the Pakistan Stock Exchange (PSX) on Tuesday, released its financial results for the quarter ended...

FBR enhances FED for locally produced cigarettes

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday issued a notification of the enhancement in the rates of locally produced cigarettes. The notification available with this scribe...

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ADB approves $235m loan for Karachi’s BRT

The Asian Development Bank (ADB) has approved a $235 million loan to help develop Karachi’s Bus Rapid Transit project. According...

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