ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 237 billion in federal excise duty (FED) from cigarettes in the fiscal year 2023-24, marking an increase of Rs 95 billion or 67% from the previous year.
According to FBR data, total FED collections rose by Rs 207 billion, or 56%, reaching Rs 577 billion in FY24. The cigarette sector was the largest contributor, accounting for 41% of total FED revenue, followed by cement with 13.4%, and concentrates with 6.3%.
Sales Tax Domestic (STD) revenue from cigarettes increased significantly, totaling Rs 60.66 billion in FY24, up 64.3% from Rs 37 billion the previous year, Mettis Global reported on Monday.
Overall, net STD collections for FY24 reached Rs 1.22 trillion, a 22.6% increase from Rs 998 billion in the prior fiscal year, contributing an additional Rs 225 billion. Notably, fifteen sectors, including electrical energy, petroleum products, sugar, cement, cigarettes, and cotton yarn, made up 62% of domestic sales tax revenue.
