By Ajith Perera
Excise tax has for long been a cornerstone of Government revenue, but thanks to disparate taxation and policy, the Treasury is incurring colossal losses at a time income has become an urgent need.
Recent media reports cited that the Government will lose Rs. 50 billion in revenue from the legal tobacco industry due to excessive taxation, as Customs officials yesterday pointed to a growth of almost 2,000% in illegal cigarette smuggling over January and F
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