Illicit tobacco trade and Pakistan’s revenue woes - News Summed Up

Illicit tobacco trade and Pakistan’s revenue woes


As world marks ‘No Tobacco Day’ tomorrow, Pakistan continues to lose billions worth revenue every year due to illicit tobacco trade, high-handedness of multinational companies and loopholes in the system. According to insiders, major factors responsible for sub-optimal government revenues are three-tier tax structure and illicit tobacco trade, which fluctuates with NGO estimates of 10pc of the market to MNC’s estimates of 33pc of the market, sources said. Besides the financial impacts, the tobacco trade has innumerable health hazards attached to it. Amid Covid-19 crisis, some tobacco companies have been putting their logo on free face masks, while others have offered doorstep delivery during quarantine. Among the young population, 10.7pc of all youth – including 6.6pc girls and 13.3pc boys – consume tobacco or tobacco products.


Source: Pakistan Today May 30, 2020 16:18 UTC



Loading...
Loading...
  

Loading...