Taxes paid increase by 14pc, profit by 218pc for multinational cigarette companies: NAB probe | Pakistan Today

Taxes paid increase by 14pc, profit by 218pc for multinational cigarette companies: NAB probe

The National Accountability probe into the three-tiered cigarettes taxation system has revealed that taxes paid by multinational companies has increased by 14 per cent while their profit has increased by 218pc, reported a local media outlet.

The probe also revealed that the companies bagged a net turnover of 62pc in 2018-18.

A NAB official said, “This has resulted in higher sales due to the reduction in prices, and also reduced tax payment by the companies.”

“Around Rs33 billion tax benefits were obtained by the two main multinational cigarette manufacturing companies through the change in tax slab structure,” the official added.



Related posts

Top