Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mr. Christos Harpanditis, Vice President of Philip Morris International, on the sidelines of the IMF-World Bank Spring Meetings in Washington, D.C.
The Finance Minister appreciated the company’s longstanding commitment to Pakistan and acknowledged its contributions to the economy. He highlighted the improving business climate in the country and outlined the Government’s taxation reforms focused on people, process, and technology.
The Minister emphasized the need for effective enforcement and compliance measures to curb illicit production and sale of cigarettes. He shared that the Tax Policy Office had recently been moved to the Finance Division to ensure that taxation and tariff decisions are guided by economic value considerations.
The Finance Minister invited Philip Morris International to share its taxation proposals with the Ministry of Finance for further consideration.
