July 24, 2021
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    First Quarter Excise Tax Revenue increases

    August 11, 2014

    Total excise tax revenue generated from liquor, cigarettes and tobacco, petroleum, motor vehicles and other items, increased by 23.6 percent to Rs. 71,651 million during the first quarter of 2014 compared to the Rs. 57,984 million in the same period of 2013.

     

    Revenue from hard liquor increased by 8.0 percent despite the decline in the production of hard liquor by 0.3 percent compared to same period of 2013 as a result of the increased excise duty on country made foreign spirits and coconut and processed arrack.

     

    The revenue from malt liquor increased significantly by 20.9 percent during the first four months in 2014 compared to same period in 2013 with the increase in production by 8.3 percent and the increase in excise duty.

     

    The revenue from cigarettes and tobacco increased by 4 percent to Rs. 17,524 million during the first four months of 2014 benefitingfrom the increase in excise duty on cigarettes despite the decline in the production of tobacco by 11.3 percent during this period.

     

    Meanwhile, the revenue from excise special provisions duty on motor vehicles amounting to Rs. 29,490 million during the first quarter in 2014 recorded a significant 49.5 percent growth in comparison to the same period in 2013 as a result of the increase in the value of motor vehicle imports during this period. (ST/KH)

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