FBR notifies enhanced FED on cigarettes, cement

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified federal excise duty on cigarettes enhanced through Finance Act, 2018.
The FBR in a official note to all the offices of Inland Revenue, stating that through SRO 562 (I)/2018 dated April 30, 2018, the rates of FED of different categories / tiers of locally produced.
The new rates as per Finance Act 2018 are as follow:
01: Locally produced cigarettes if their on-pack printed retail price exceeds four thousand five hundred rupees per thousand cigarettes: Rs3,970/1000 cigarettes.
02. Locally produced cigarettes if their on-pack printed retail price exceeds two thousand nine hundred and twenty – five rupees per thousand cigarettes but does not exceed four thousand five hundred rupees per thousand cigarettes: Rs1,776/1000 cigarettes.
03. Locally produced cigarettes if their on-pack printed retail price does not exceed two thousand nine hundred and twenty –five rupees per thousand cigarettes: Rs854/1000 cigarettes.
The FBR said that the federal excise duty on cement had been enhanced from Rs1.25 per kilogram to Rs1.50 per kilogram through Finance Act, 2018. The rates as per Finance Act 2018 shall have effect on the next day of assent given to the Finance Act 2018 by the President of Pakistan.
The FBR further said that the president had given assent to the Finance Act, 2018 on May 22, 2018 therefore the revised rates of federal excise duty on cigarettes and cement shall come into force with effect from May 23, 2018.

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