Tobacco manufacturers are appealing to the Government to suspend any further excise duty increase to allow the market to stabilise.
In a statement on Friday, the Confederation of Malaysian Tobacco Manufacturers (CMTM) said the industry was facing a major crisis following the “drastic” excise increase of about 40% in November last year to 40 sen per stick.
“Legal industry volumes have been severely impacted, registering a significant decline by approximately 30% post the unprecedented excise increase. This would mean that excise revenue collection would be considerably lower than before November 2015,” it said.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
In a statement on Friday, the Confederation of Malaysian Tobacco Manufacturers (CMTM) said the industry was facing a major crisis following the “drastic” excise increase of about 40% in November last year to 40 sen per stick.
“Legal industry volumes have been severely impacted, registering a significant decline by approximately 30% post the unprecedented excise increase. This would mean that excise revenue collection would be considerably lower than before November 2015,” it said.
No comments:
Post a Comment