Effective taxation of tobacco products needed to increase revenue: Speakers
Speakers at a workshop today (30 March) opined that in the upcoming budget for the fiscal year 2024-25, effective taxation and price hikes on all types of tobacco products can curb tobacco use and increase revenue for the government
Such a move will play an effective role in implementing the prime minister's conviction to build a tobacco-free Bangladesh before 2040, they said at a journalist workshop organised by the Development Organisation of the Rural Poor (Dorp) and the Economic Reporters Forum (ERF), reads a press release.
A total of 25 journalists from print, electronic and online media working in economy beat participated in the workshop held in Dhaka.
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It was informed in the workshop that with effective taxation on tobacco products in the budget for FY25, the revenue from the cigarette sector alone will be about Tk47,000 crores, which is about 28% more than the previous year.
In addition, about 1.5 million adults would be encouraged to quit smoking, 10 million young people would be discouraged from starting, and in the long term about 1.1 million premature deaths related to tobacco use would be prevented.
