FBR doubled taxes on cigarettes even before mini-budget's approval
Business
Duty increased to Rs16,500 on cigarettes packet worth over Rs9,000, fixed at Rs5,050 costing less
ISLAMABAD (Dunya News) - The Federal Board of Revenue (FBR) doubled taxes on cigarettes even before the mini-budget was approved.
A mini-budget of Rs170 billion was presented in parliament on International Monetary Fund’s (IMF) terms but the FBR doubled the tax on cigarettes even before the approval of the mini-budget.
The Federal Board of Revenue has notified an increase in federal excise duty on locally manufactured cigarettes. According to the notification, the duty has been increased to Rs16,500 per packet of 1,000 cigarettes worth more than Rs Rs9,000.
Apart from this, the duty has been fixed at Rs5,050 per packet of 1,000 cigarettes costing less than Rs9,000. Fixed duty on cigarettes will be implemented immediately, the Federal Board of Revenue’s notification stated.
