An extra revenue of Rs.80 billion can be generated, if the government increases the tax on cigarettes, MP Bandula Gunawardena predicts.
The observation was made while speaking at a press conference held in Colombo this afternoon (13).
Gunawardena pointed out that the government could be able to achieve the target, if it imposes a Rs.20 increase on cigarettes as a special commodity tax.
“If not Rs.20, I too suggest to increase it by Rs.40 or so,” he added.
Gunawardena also went on to say that the President must reveal if any parties are opposing the move to increase tax on tobacco products.
“Earlier, the President said that some parties are against the proposed tax hike on tobacco companies,” he said.
President Maithripala Sirisena earlier said the Cabinet of Ministers should take steps to approve the proposal tabled by him to the Cabinet to increase the tax on tobacco products to 90 percent without taking much time.
