ISLAMABAD: The share of cigarettes in overall Federal Excise Duty (FED) collection has increased to 40 percent during 2022-23 as compared to 39.3 percent in 2021-22.
The FBR data further disclosed that the share of cement in the FED collection decreased to 18.7 percent in 2022-23 as compared to 24.6 percent in 2021-22. The share of the beverages (concentrates) in total FED collection increased from 7.7 percent in 2021-22 to 9.6 percent in 2022-23. The share of travel by air in total FED collection has increased to 4.9 percent in 2022-23 as compared to 3 percent in 2021-22.
The data of the FED compiled by the Federal Board of Revenue (FBR) revealed that the net collection from the FED increased by 15.4 percent during 2022-23. In absolute terms this increase translates into Rs. 49.1 billion additional FED collected as compared to 2021-22.
Despite the increase, the share of FED in total FBR collection remained unchanged at 5.2 percent as in the 2022-23, FBR report said.
Major…