The finance minister proposes increasing supplementary duty
Cigarettes are going to be costlier, with Finance Minister AHM Mustafa Kamal proposing increasing supplementary duty in a bid to reduce the consumption of tobacco products and maximize revenue collection from this sector.
Placing a Tk568,000 crore budget for 2020-21 financial year in parliament on Thursday, the minister proposed —
a) Price Per 10-sticks lower slab cigarette to become Tk39 and above and supplementary duty on it to be 57%.
I propose to fix the price per 10-sticks middle slab cigarette at Tk63 and above, that of high slab 10-sticks cigarette at Tk97 and above and the price of premium slab 10-sticks cigarette at Tk128 and above where supplementary duty will be 65% for all those three slabs.
b) Increasing the price of handmade non-filter 25-sticks Bidi at Tk18 from existing Tk14, that of 12-sticks at Tk9 from existing Tk6.72 and the price of 8-sticks at Tk6 from existing Tk4.48 where the supplementary duty of this product will be unchanged at 30%.
I also propose to fix the price of 20-sticks filter bidi at Tk19 from existing Tk17 and that of 10-sticks filter bidi at Tk10 from existing Tk8.50 where supplementary duty will remain unchanged at 40%.
c) Fixing the price of 10 gm of Jarda at Tk40 and the price of 10 gm of Gul at Tk20. Supplementary duty of both the products is proposed to become 55%.