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Cabinet approved draft bill of excise tax on liquor

The Cabinet on Tuesday approved Finance Ministry's draft laws related to excise taxes on liquor, cigarette, an air conditioner, which would lead to increasing taxes on these items if the National Legislative Assembly make them law.

The ceiling of excise tax on liquor is raised to 90 per cent of ex-factory price or manufacturers' price.

The current ceiling rates vary between 50 per cent and 60 per cent depending on different types of liquors.

Current ceiling of excise tax on cigarette at 80 per cent would be raised to 90 per cent of its value. And the Excise Department plans to raise tax on air conditioner by raising tax to 3 stang for every BTU, up from a current rate of 30 per cent of its price.

New definition of ex-factory price is approved which will enable the Excise Department to prevent manufacturers to declare lower price of their products to avoid fully pay taxes.

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Cabinet approved draft bill of excise tax on liquor

The Cabinet on Tuesday approved Finance Ministry's draft laws related to excise taxes on liquor, cigarette, an air conditioner, which would lead to increasing taxes on these items if the National Legislative Assembly make them law.

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