CTC contributes Rs 52.4 b in 2009

Ceylon Tobacco Company (CTC) at the end of 2009, has contributed a total of Rs. 52.4 billion to the Government.

Levies, duties and taxes grew to Rs. 49.3 billion as a result of excise-led price increases and an improved brand mix. Provincial Council Tax grew to Rs. 3.1 billion.

The company's revenue and contribution to Government taxes and levies benefited from robust law enforcement to minimise the presence of counterfeit and smuggled cigarettes in the Country.

With a persistent drive by the authorities 1,890 seizures were made in 2009, resulting in the confiscation of 79 million sticks of counterfeit and smuggled cigarettes valued at over Rs. 1 billion. This was more than double that of 2008.