ISLAMABAD: Pakistan Tobacco Company paid over Rs 70 billion to the Federal Board of Revenue (FBR) in the form of duties and taxes during the first nine months (January to September) of the calendar year 2016.
According to the announcement of the multinational cigarette manufacturing company, its net turnover was Rs 35,594 million, after tax profit of Rs 8,269 million and earnings per share of Rs 32.36.
The cigarette manufacture has contributed over Rs 70 billion to the FBR as duties and taxes during the nine months ended September 30, 2016.
Pakistan Tobacco Company Chairman Mueen Afzal and members of the management board expressed their deep concern over loss of volume to the illicit cigarette industry, which continues to grow unabated. This observation was made during a meeting of the Company’s Board here on Wednesday, where concern was raised to curtail the rapidly expanding illicit cigarette industry that is not only harming the legitimate industry but also evading billions of rupees’ worth of taxes from the Government.
