Why Tobacco Revenues Will Rize by 30% in 2012?
The state's tobacco monopoly, Régie Libanaise des Tabacs et Tombacs,expected the sector's revenues to rise by 30.1% year-on-year to $627m in 2012 and anticipated significant investments in tobacco manufacturing this year, as reported by Lebanon This Week, Byblos Bank publication. It attributed the increase in revenues to the taxation policies implemented by the Ministry of Finance.
Also, the Régie stated that it is determined to raise its standards to those of international tobacco companies. It plans to establish a $2.4m tobacco-rolling line and will launch in the coming weeks a tender for a new tobacco sorting factory to be located in Bikfaya. It added that Japan Tobacco International will contribute to part of the financing of the new projects. The Régie is in charge of importing and exporting all tobacco products to and from Lebanon, and is responsible for a long-established tobacco subsidy program for farmers.
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