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Reading: 2024-25 Budget: Federal Govt Targets Rs 60 Billion Recovery from Tobacco Sector
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Illegal Cigarette Sales in Pakistan, Federal Excise Duty, Tax Revenue, Philip Morris Pakistan
PhotoNews Pakistan > Business > 2024-25 Budget: Federal Govt Targets Rs 60 Billion Recovery from Tobacco Sector
Business

2024-25 Budget: Federal Govt Targets Rs 60 Billion Recovery from Tobacco Sector

Web Desk
By Web Desk Published June 8, 2024 1 Min Read
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The federal government has resolved to intensify its fight against cigarette smuggling in the 2024-25 budget, aiming to recover an estimated Rs 60 billion.

According to sources familiar with the matter, a commission has been specifically tasked to collect this substantial amount.

As part of this stringent budgetary initiative, severe penalties are set for retailers dealing in smuggled or non-duty-paid cigarettes. Starting next fiscal year, offending shops will face fines and potential sealing.

The Pakistan government’s enforcement strategy is pivotal for curtailing illegal tobacco sales and ensuring adherence to tax laws. The International Monetary Fund (IMF) has endorsed the proposed measures of the Federal Board of Revenue (FBR).

Under the new regulations, authorities will destroy smuggled and non-duty-paid cigarette stocks. To implement these rules, the FBR has temporarily sealed shops in this illegal trade.

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