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...
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...
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...
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...
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...
Pakistan Tobacco Company announces Rs2.9 billion Q2 profit
LAHORE:Â Pakistan Tobacco Company (PTC), in a notification issued to the Pakistan Stock Exchange (PSX) on Tuesday, released its financial results for the...
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...
Philip Morris to only produce smoke-free products in its factory in Greece
Philip Morris International Inc (PMI) announced that the factory of its Greek affiliate (Papastratos) in Aspropyrgos, has ceased cigarette production and is...
Audit team unlikely to submit report on tobacco MNCs before PAC on 23 May
ISLAMABAD: The Auditor General of Pakistan (AGP) is not likely to conclude the special audit of international tobacco companies operating in the...
Pakistan’s Auditor General initiates special audit of MNCs in tobacco sector
Pakistan’s Auditor General has started a forensic audit of multi-national companies (MNCs) of tobacco sector and sought necessary record from MNCs to conclude the audit within 15 days in light of Public Accounts Committee’s (PAC) directions, it has been learnt.
PAC summons FBR chairman over reduction in tax collection from tobacco sector
ISLAMABAD:Â The Federal Board of Revenue (FBR) has retained the third slab of federal excise duty (FED) on cigarette prices and sat aside...