Govt to increase tax on cigarettes, tobacco products in next budget
Monday, 30 March 2009
The government will increase the tax on cigarettes and tobacco products in the next budget, reports UNB.
National Board of Revenue (NBR) chairman Muhammad Abdul Mazid disclosed this at a view-exchange meeting with Unnayan Shamunnay at the NBR conference room Sunday.
"According to the agreement with the United Nations we have to increase taxes on the tobacco products each year," the NBR chairman said.
He said it is not the prime target of the NBR to increase the revenue by imposing more taxes on tobacco products. Rather, it is the main objective of the NBR to increase public health.
Shamunnay chief and eminent economist Dr Atiur Rahman urged the NBR to impose more tax on the tobacco products. He said that by imposing more taxes on the tobacco products the NBR could generate more revenue.
Dr Atiur suggested the NBR to increase at least 15 percent on retail prices of all tobacco products.
He said it is not acceptable that a nation is plunged in a self-destructive act like smoking.
"We've to free our young generation from smoking for a better future of the nation… the most effective way to reduce the use of tobacco products is to impose more taxes on the item," Dr Atiur said.
National Board of Revenue (NBR) chairman Muhammad Abdul Mazid disclosed this at a view-exchange meeting with Unnayan Shamunnay at the NBR conference room Sunday.
"According to the agreement with the United Nations we have to increase taxes on the tobacco products each year," the NBR chairman said.
He said it is not the prime target of the NBR to increase the revenue by imposing more taxes on tobacco products. Rather, it is the main objective of the NBR to increase public health.
Shamunnay chief and eminent economist Dr Atiur Rahman urged the NBR to impose more tax on the tobacco products. He said that by imposing more taxes on the tobacco products the NBR could generate more revenue.
Dr Atiur suggested the NBR to increase at least 15 percent on retail prices of all tobacco products.
He said it is not acceptable that a nation is plunged in a self-destructive act like smoking.
"We've to free our young generation from smoking for a better future of the nation… the most effective way to reduce the use of tobacco products is to impose more taxes on the item," Dr Atiur said.