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Price, Tax, and Profit Dynamics in the Tobacco Industry: Empirical Evidence from BAT Bangladesh
Price, Tax, and Profit Dynamics in the Tobacco Industry: Empirical Evidence from BAT Bangladesh

Within a single year, the net profit of cigarette company BAT Bangladesh declined by 67 percent, amounting to a decrease of approximately BDT 11.67 billion. In 2025, its after-tax net profit stood at BDT 5.84 billion. This serves as a notable example of how increased taxation for public health protection can impact economic outcomes, as reflected in the company’s latest financial report.

Current and the past two financial years, supplementary duty on low-tier cigarettes was increased by 9 percentage points in two phases, bringing the total tax burden to 83 percent. Similarly, tax rates on premium, high, and medium tiers were also gradually increased to 83 percent. From the fiscal year 2024–25, a uniform supplementary duty of 67 percent has been applied across all cigarette tiers, which, along with 15 percent VAT and a 1 percent health development surcharge, results in a total tax burden of 83 percent. Aligning tax rates across all four cigarette tiers had long been a demand of tobacco control advocates in Bangladesh.

In the context of these tax structure changes and rising market prices, the tax policy of the National Board of Revenue (NBR) has had a significant impact on the cigarette sector. As a result, although business activities expanded to some extent in 2025, BAT Bangladesh’s net profit declined sharply to BDT 5.84 billion, compared to BDT 17.51 billion in 2024. The company reported net profits of BDT 17.88 billion in 2023 and BDT 17.87 billion in 2022. However, the company’s gross turnover increased from BDT 432.32 billion to BDT 462.84 billion, and government revenue also rose during the same period.

Therefore, it is very important to restrain the high profitability of the tobacco industry by strengthening tax policies, which can help reduce the consumption of cigarettes and other tobacco products.