CRD Seeks Action Against Multinational Tobacco Companies Over Alleged Tax Violation
Abdullah Hussain (@Abdulla99267510) Published April 05, 2024 | 09:38 PM
The development comes at a time when the Ministry of Finance is struggling to broaden the tax net and plug the loopholes in the tax machinery.
ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-April 5th, 2024) The Centre for Research and Dialogue (CRD) on Friday asked the finance minister for action against alleged violation of the country's tax laws by multinational cigarette companies.
The CRD pointed out blatant violations through a letter.
The development comes at a time when the Ministry of Finance is struggling to broaden the tax net and plug the loopholes in the tax machinery.
The letter urged prompt action against the violations of the Federal Excise Act 2005 after the multinational cigarette companies introduced new variants of the same brand family at significantly lower prices.
According to the rules, no manufacturer or importer of cigarettes can introduce or sell a new variant of a cigarette brand at a price lower than the lowest actual price within the same brand family.
Despite this regulation, the Pakistan Tobacco Company (PTC) has launched a new brand, Capstan International, priced at Rs 164, substantially lower than its existing family brand, Capstan by Pall Mall, which is priced at Rs 212.
Amjad Qamar, Director of CRD, highlighted the implications of this violation, emphasizing that it not only breaches tax regulations but also contributes to making cigarettes more affordable, which is detrimental to public health and reportedly 337500 people lost their lives due to tobacco related diseases annually in Pakistan.
In his letter to the Finance Minister, Qamar has urged swift and decisive action to address this issue and uphold the integrity of tax laws aimed at safeguarding public health and ensuring fair market practices.
Recent Stories
Pakistan women’s squad announced for England tour
Punjab CM Maryam inaugurates initiative of field hospitals
PM Shehbaz constitutes committee to investigate caretaker govt’s wheat import ..
Women T20I: Pakistan to face West Indies in fourth match tomorrow
Pak-UK 6th Regional Stabilization Conference underway at NDU, Islamabad
World Labor Day being observed today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 1 May 2024
Today Gold Rate in Pakistan 01 May 2024
Govt reduces petrol price by Rs5.45 per litre
Pakistan’s Ambassador to UAE meets Ruler of Ras Al Khaimah
Statement of Engro Corporation - LNG Case Decision
Wasim Akram touches fans’ hearts by new look
More Stories From Business
-
SRB tax collection surges 29% to Rs 185.2 billion
28 minutes ago -
WSSP, district admin to launch joint operation against water bills defaulters
3 hours ago -
Mega Cotton Seminar held in Bahawalpur
5 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 1 May 2024
7 hours ago -
Today Gold Rate in Pakistan 01 May 2024
8 hours ago -
Petrol prices slashed by Rs 5.45 per liter
16 hours ago
-
Govt reduces petrol price by Rs5.45 per litre
17 hours ago -
FBR issues Income Tax General Order to enforce return filing
17 hours ago -
Planning minister reviews preparations for upcoming 13th JCC meeting, PM Shehbaz’s expected visit ..
17 hours ago -
FBR issues Income Tax General Order to enforce return filing
18 hours ago -
LCCI delegation visits Business Facilitation Center
21 hours ago -
2-day Pak-International Poultry Expo begins
21 hours ago