Fall in sale of Fags affects Tax revenues

Published : 9:01 am  September 12, 2018 | No comments so far |  | 

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By Ajantha Kumara Agalakada  

The drop in the sale of Cigarettes had led to a drop in tax revenue amounting to Rs 18 billion, as revealed by the Minister of Finance Mangala Samaraweera at the Cabinet meeting held yesterday. The Minister pointed out that with the continuous legal actions against the use of Cigarettes, there is an apparent drop in sales to a great extent, which had severely affected the tax revenues.  


 Minister Samaraweera made this revelation while commenting on a proposal brought forward by Minister Rajitha Senarathne requesting for the prohibition of sale of Cigarettes in loose form. Minister Rajitha presented this Cabinet paper when the cabinet met under the patronage of President Maithripala Sirisena. It is reported that Minister Samaraweera expressed his views objecting to this proposal. Following this the Cabinet decided to postpone arriving at a decision in this regard pending the appointment of a committee and obtaining their directives.     

 

The Minister pointed out that with the continuous legal actions against the use of Cigarettes, there is an apparent drop in sales to a great extent, which had severely affected the tax revenues

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