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Cigarettes and liquor to contribute with Bs. 447 billion
These figures were calculated on the base of the reforms to the Alcohol and Alcoholic Products Tax Law and Cigarettes and Manufacture of Tobacco Tax Law...
In accordance with the Nation’s Budget for 2008, the collecting of taxes over alcoholic and cigarette species, national and from importation, in 2007 will exceed in 14.1% the contribution of both areas to the treasury, which means an additional income estimated in 447 billion bolivares (Bs.F. 447 million). Regarding to this, the National Integrated Customs and tax Administration Service (SENIAT, for Spanish) should receive around Bs. 749 billion (Bs.F. 749 million) and Bs. 1.24 trillion (Bs.F. 1.24 billion), in the quality of tariff to liquors and cigarettes trade, respectively.
These figures were calculated on the base of the reforms to the Alcohol and Alcoholic Products Tax Law and Cigarettes and Manufacture of Tobacco Tax Law, approved last October 5th by the National Assembly. It is worth mentioning that, if the collection goal on this matter is reached for 2008, the incomes obtained from these areas five years ago would be doubled, because for 2003 there were paid Bs. 694.3 billion (Bs.F. 694.3 million), figure which represents only 39.7% of the total amount estimated for the next fiscal period (Bs. 1.74 trillion or Bs.F. 1.74 million).
For the achievement of this goal, the SENIAT will establish, according to the document, a “massive tax control plan to the package stores around the countryâ€, which would be strengthen by the contribution of information from the customs, regarding the quantity of liquors and cigarettes entering the country and the importer companies which trade with it.
Likewise, the 2008 Nation’s Budget highlights that the National Executive works for the incorporation of both taxes to the new Selective Consumption Tax Law, foreseen on the Enabling Law, in order to play down the demand of these sumptuary products and to include others, equally unnecessary, such as energy-giving and fizzy soft drinks.
Top 10 online cigarettes news on Thursday, September 9, 2010 20:14:55
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Fan-club Marlboro? - Yes !!!