Cigarette industry witnessing big surge in illegal trade RECORDER REPORT ISLAMABAD: The cigarette industry is experiencing a surge in illegal trade in recent months, particularly following a significant excise increase in February 2023. Fueled by this excise...

ISLAMABAD: Approximately Rs. 5.7 billion are lost every year as fake cigarettes are being sold, evading duties and taxes, ARY News reported citing cigarette industry sources The sources said that a large quantity of fake...

Continuing with its ongoing incessant operations against currency smuggling, Pakistan Customs has seized Qatri Reyals worth USD 38,500 this afternoon at Peshawar Airport. A passenger named Imran Khan, Passport No. 1570-65304-1 resident of Dir...

ISLAMABAD: An international research organization on Saturday revealed that the tax evasion of Rs80 billion per annum is taking place in Pakistan due to illegal tobacco trade, as illicit cigarettes cover 40 percent of...

LAHORE: Smuggling across Pakistan’s borders with Iran and Afghanistan continues to plague the country’s economy.   Although efforts of the present government have prompted a slight decline in illegal trade, the issue by and large still persists...

KARACHI:The Pakistan Tehreek-e-Insaf (PTI) government's policies aimed at curtailing imports have started yielding desired results. The trade deficit has contracted considerably but whether the current path is the right one or will it give...

ISLAMABAD: Illicit tobacco trade is denying the country billions of rupees worth of revenues mostly because of soft-hitting laws and lack of enforcement, experts said on Wednesday.   Such views were voiced by the speakers at...

ISLAMABAD: Pakistan is estimated to annually lose more than Rs300 billion on tax evasion in five economic sectors and illicit auto lubricants and tyres trade leaves major dent to exchequer among all, according to...

Islamabad: The taxation policies towards the tobacco industry in Pakistan need to be based on real evidence, including the facts and figures about the share of illicit and smuggled products in the Pakistani market.     This...

Islamabad: Tax evasion and illegal trade in five sectors – tea, tyres & auto lubricants, pharmaceuticals, illicit cigarettes and real estate – are inflicting a whopping annual loss of Rs 310bn to the country’s...