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ISLAMABAD: The Federal Board of Revenue (FBR) will issue a new deadline beyond May 20, 2022 for the documented tobacco sector for the implementation of the track-and-trace system for clearance of all brands of cigarette packs with tax stamps.

Sources told Business Recorder on Sunday that the documented cigarette sector has not met the extended deadline of May 20, 2022 regarding clearance of all brands of cigarette packs with tax stamps.

Sectors earning ‘windfall’ profits: FBR envisages ‘targeted’ taxation

It was legally required that all cigarette packs being cleared from factories from May 20, 2022 must have tax stamps. In this regard, the manufacturers have requested the FBR for another extension in the deadline. The deadline has expired on May 20, but the tobacco companies are still in the testing phase of implementing the track-and-trace system.

If the FBR does not further extend the deadline, the tax officials would not allow clearance of cigarette packs from the factories without tax stamps or seize all such packs being sold in the market.The FBR will not allow the cigarette manufacturers to remove tobacco products from the production site, factory premises or manufacturing plants without affixation of tax stamps/ Unique Identification Marking (UIMs) from the extended deadline of May 20, 2020.

Copyright Business Recorder, 2022

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