Cigarette sales grew by 30% in Sri Lanka

Due to the increase in excise duty on cigarettes from November 12, 2021, the income from excise duty on cigarettes has grown by 32.6 percent to 82.6 billion rupees in the same period of 2022 compared to 62.3 billion rupees in the first nine months of 2021.

On the other hand, cigarette sales grew by 30.1 percent from 1,694 million cigarettes to 2,204 million cigarettes in the same period of 2022 compared to the first nine months of 2021.

This is stated in the 'Public Financial Management Report 2023' issued by the Ministry of Finance, Economic Stabilization and National Policy.
Meanwhile, according to Ceylon Tobacco Company, in the first 9 months of 2022, the company recorded a tu over of 126.44 billion rupees and the pre-tax profit for this period is shown as 24.21 billion rupees.

Also, profit after tax is 14.11 billion rupees, Lanka Tobacco Company has paid 94.24 billion rupees as gove ment tax and 10.10 billion rupees as income tax to the gove ment for the period of 09 months ending September 30, 2022.