FBR may legally determine minimum price for purposes of levying tobacco tax:CCP.ISLAMABAD, June 04, 2009 (Balochistan Times) -- The Competition Commission (CCP (Certified Computer Professional) The award for successful completion of a comprehensive examination on computers offered by the ICCP. See ICCP and certification. . 1. (language) CCP - Concurrent Constraint Programming. 2. ) has concluded that the Federal Board of Revenue (FBR FBR Friedman, Billings, Ramsey Group, Inc. (investment firm) FBR Fast Breeder Reactor FBR Federal Benefit Rate FBR Foundation for Biomedical Research FBR Foundation for Blood Research FBR Fluidized Bed Reactor ) may legally determine the minimum price for the purposes of levying tobacco tax on cigarette manufactures. However, the FBR may not stop manufacturers, wholesalers or retailers from selling cigarettes below that price. Pursuant to a public hearing, the FBR and the manufacturers of cigarettes were advised to stop mandatory publication of advertisements pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to minimum retail price of cigarettes with immediate effect. The CCP explicated that sharing of information such as price tables may facilitate anti-competitive behaviour by potentially eliminating uncertainty as to the future conduct of market share competitors and inevitably affecting future commercial policies. However, FBR may require manufacturers to print the maximum retail price on cigarette packs in unambiguous terms. The CCP stated that the printing of a maximum retail price on cigarette packs would have a three fold advantage. Firstly, it would not in any manner impact FBRs attempt to plug the loopholes in the current tax collection system as FBR could continue to prescribe pre·scribe v. To give directions, either orally or in writing, for the preparation and administration of a remedy to be used in the treatment of a disease. the minimum retail price for the purposes of levying and collecting tax. Currently, the FBR taxes the manufacturers, however retailers cigarette prices are far above the manufacturers suggested retail price resulting in significant profits to the retailer all the while evading tax on the price differential. Secondly, it would prevent retailers from overcharging consumers because the price would be capped at the maximum retail price. Lastly, if at all, placing the maximum price on cigarette packs has an impact on pushing prices up. Increased cost may help in deterring and discouraging dis·cour·age tr.v. dis·cour·aged, dis·cour·ag·ing, dis·cour·ag·es 1. To deprive of confidence, hope, or spirit. 2. To hamper by discouraging; deter. 3. consumers from use of cigarettes, thus addressing consumer health concerns advanced by the Health Ministry. The Competition Commission of Pakistan was established in November 2007 under the Competition Ordinance A law, statute, or regulation enacted by a Municipal Corporation. An ordinance is a law passed by a municipal government. A municipality, such as a city, town, village, or borough, is a political subdivision of a state within which a municipal corporation has been , 2007 to promote and protect competition in the economy. (THROUGH ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. PULSE) |
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