Tobacco Companies Barred From Selling Cigarettes Without Tax Stamps

Tobacco Companies Barred From Selling Cigarettes Without Tax Stamps

Tobacco Companies Are Prohibited From Selling Cigarettes

All tobacco companies are prohibited from selling cigarettes without tax stamps by the Federal Board of Revenue. 

According to sources, FBR has mandated that all cigarette manufacturers apply electronic tax stamps starting on July 1, 2022, in order to sell cigarettes in the market. 

FBR Enforcement Teams Will Not Permit The Sale Of Cigarettes

According to additional sources, FBR enforcement teams will not permit the sale of cigarettes without tax stamps and will seize the goods if they leave the production grounds. 

According to additional sources, a track and trace system has so far been implemented by Pakistan Tobacco Company, Philip Morris Company, and Khyber Tobacco Company. 

Read Also | PM Shehbaz Orders Resolution Of Energy Crisis

Read Also | Energy prices to surge until year-end, ministers warn

Local Cigarette Businesses Want To Sell Cigarettes

If the remaining 13 local cigarette businesses want to sell cigarettes, they must also install track and trace. According to sources, 12 of the 13 tobacco companies are located in Mardan and Swabi, and one company is in Sargodha. 

According to sources, all cigarette companies will be compelled to apply electronic tax stamps, which will prevent billions of rupees in tax fraud and boost tax income. 

The official claimed that in order to prevent tax evasion, smuggling, and the illegal cigarette trade, FBR also regularly monitors merchants. It is important to note that the Peshawar High Court has lifted the injunction that local businesses had filed against the FBR to prevent them from paying for the track and trace system’s installation.

Read Previous

Imran Decides To Take PML-N On In Punjab By-Elections

Read Next

Rupee Gains Value Against US Dollar