The government is not ready to accept a major taxation measure of the Federal Board of Revenue to impose 50-60 percent Federal Excise Duty (FED) on liquor and alcoholic beverages manufactured by local companies in the upcoming budget (2012-13).Sources told Business Recorder here on Thursday that it was one of the taxation proposals on indirect taxes side in the budget (2012-13).
According to the FBR, proposal, maximum rate of FED should be imposed on alcoholic beverages to increase their prices and discourage their consumption. The proposal of FBR has not been made part of the Finance Bill (2012-13) to be released on Friday (June 1, 2012).
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