ISLAMABAD: The Federal Board of Revenue has put on hold the plan for complicated digital coding and tracking system ‘Codentify’ on cigarettes which is the brainchild of a multinational cigarette manufacturing company.
The FBR’s Board-in-Council has decided put on hold implementation to weigh up the proposed system to affix digital code on each of the cigarette packs.
A company wanted to affix tax stamps on cigarettes whereas another multinational has proposed Track and Trace system to check the originality of cigarettes brand. However, the FBR has to analyse the cost of such projects and their impact on the local industry. If the FBR agrees to implement the ‘Codentify’ system, the question arises who would bear the cost of expensive machinery to be installed for the purpose?
The FBR also convened a meeting of the representatives of leading multinational cigarette manufacturing company to review FED payment on cigarettes during July-March 2013-14. The companies representatives and FBR officials discussed the future trend of the FED collection on cigarettes during the remaining period of 2013-14.
