According to Businesspostbd, the Bangladesh Economic Association (BEA) has proposed a 70% tax on all types of cigarettes and tobacco in the next budget. The association estimates that this would reduce smoking rates by approximately 66% and generate 170 billion takas in revenue for the treasury.
The proposal was submitted to the National Board of Revenue (NBR) during a pre-budget discussion held at the NBR headquarters on Sunday.
BEA Secretary General Md Aynul Islam presented the budget proposal. The association's vice president Hannana Begum was in attendance.
According to BEA's proposal, imposing a 70% single excise tax on all types of cigarettes would result in an average price increase of 130%. The smoking rate would decrease by 66%. Around 7 million smokers would quit, and approximately 7.1 million young people would no longer pick up the habit of smoking. The proposal also states that the government would receive at least 17 billion taka in additional tax revenue.
The BEA believes that such tax increases will lead to a boost in income, which will help the economy recover from the ongoing economic crisis.
The Bangladesh Economists Association (BEA) is the exclusive professional organization for economists in Bangladesh. Its purpose is to protect public interests and facilitate interaction among economists, learning the art of teaching and research. With nearly 5,000 members, BEA has a presence throughout the country and overseas. Founded in 1950 by university, college, and banking professionals and fellows, it brings together educators, professionals, and all others engaged in the social sciences and interested in social science. Its headquarters are located in the capital city of Dhaka, Bangladesh.
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