Leading tea brands in Pakistan—Lipton, Brooke Bond Supreme, Pearl Dust and A1—welcomed the government’s decision to stem smuggling of tea and provide relief to consumers.
As per SRO 608(I)2012, General Sales Tax (GST) on black tea has been reduced from 16% to 5%. This will lower the price of tea, which is the staple drink of millions of Pakistanis, making it affordable for all segments of society especially those who are at the bottom of the pyramid.
The reduction in sales tax will also significantly reduce the incentive to smuggle which will enhance transparency and documentation of the economy.
The increase in volumes of documented sector will create a level playing field for the formal sector while also encouraging new entrants and promote healthy competition. With prices reduced and smuggling curbed, the consumer will be the biggest beneficiary of this reduction.
Manufactured by Unilever Pakistan, tea brands Lipton, Brooke Bond Supreme, Pearl Dust and A1 are committed to passing on the benefits of this tax relief to the consumer. Unilever Pakistan is amongst the country’s oldest and largest consumer goods company with brands such as Lux, Lifebuoy, Lipton, Surf and Walls.
Known for consistent high quality and value these brands are trusted and consumed daily by millions of people across Pakistan. In 2011, the company paid Rs. 18 Billion in taxes. Listed on the local stock exchanges, with approximately 25% local shareholders, Unilever Pakistan enjoys a blue chip status.
Blog post Written by Abdullah Zafar and You can visit the original article at http://www.thenewstribe.com/