FBR clarifies imposition of Health Levy on tobacco consumption

News Image

MG News | January 21, 2020 at 10:35 PM GMT+05:00

Jan 21, 2020: The Federal Board of Revenue (FBR) on Tuesday issued a clarification on a news item appeared in a section of press about the imposition of health levy on tobacco consumption.

The clarification said that the legal and constitutional experts hold the view that health is a provincial subject and federation cannot levy health tax on tobacco consumption.

As a result, it was decided to enhance the Federal excise duty on cigarettes in order to discourage smoking. The Parliament through Finance Act 2019 abolished three tiered tax structure on cigarettes and also enhanced the FED significantly.

In the Budget Speech 2019-20, the then Revenue Minister had clarified that federal share of Federal Excise Duty realized from tobacco sector would be preferably allocated to Ministry of National Health Services Regulations and Coordination.

Resultantly issue of health levy stands resolved and the information contained in the news item is incomplete, the clarification added.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 171,739.45
242.21M
-1.54%
-2690.48
ALLSHR 104,259.24
520.15M
-1.35%
-1427.41
KSE30 51,216.76
90.23M
-1.69%
-882.09
KMI30 241,390.67
102.03M
-1.59%
-3889.84
KMIALLSHR 66,758.34
335.29M
-1.36%
-923.26
BKTi 49,017.09
25.25M
-1.47%
-728.87
OGTi 33,907.82
6.36M
-1.52%
-523.94
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 65,475.00 66,385.00
65,365.00
-535.00
-0.81%
BRENT CRUDE 99.16 99.44
94.89
5.09
5.41%
RICHARDS BAY COAL MONTHLY 105.75 0.00
0.00
-1.25
-1.17%
ROTTERDAM COAL MONTHLY 121.10 121.10
121.10
0.20
0.17%
USD RBD PALM OLEIN 1,135.00 1,135.00
1,135.00
0.00
0.00%
CRUDE OIL - WTI 90.89 91.40
87.32
4.06
4.68%
SUGAR #11 WORLD 14.86 14.90
14.73
0.12
0.81%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg