Karachi (News-Capital Newspaper Latest – NNI. August 16, 2022) FBR has implemented a track and trace system to prevent tax evasion in big industries, now cigarette sellers and manufacturers without tax stamps face imprisonment and fines. It will happen.
Tax stamps must be affixed on every box of cigarettes from July 1. Once the packaging is opened, the tax stamp will also be torn off and the box cannot be sold again.
According to the sources, the national exchequer is losing 80 billion rupees annually due to the illegal trade of cigarettes, the new system will reduce it. 3 years of imprisonment, while all stock exported without tax stamps, will also be confiscated.
According to sources, so far only three major companies have implemented track and trace while several companies have taken the route of litigation. Experts say that a track and trace system should be introduced in all companies to promote the document economy.