FBR opposes ‘sin tax’ on tobacco industry

FBR opposes ‘sin tax’ on tobacco industry

ISLAMABAD: The Federal Board of Revenue (FBR) has advised against imposition of sin tax on the tobacco industry, arguing that it would cause substantial revenue loss in the range of Rs25 to 30 billion annually, The News has learnt.
However, the federal cabinet Thursday night could not finalise decision on Health Levy and it was decided that ministers for finance and health would sit together to sort out finances for the health sector. It seems difficult that there be any move on this front till upcoming budget for 2019-20.
“We have taken a clear cut view before the government that there is no need to disturb the existing three tier tax structure on the tobacco industry at this stage because it will cause substantial revenue loss on account of Federal Excise Duty (FED) and Sales Tax (ST)” one top official of the FBR confirmed to The News here on Thursday...read more
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