tobacco taxation tagged posts

South Korea to Tax Vapes

October 31, 2017 Taxation in South Korea

Vape taxSEOUL – E-cigarettes and other cessation devices may soon be taxed the same as cigarettes in Korea.

The government of South Korea is mulling a change in tax legislation which could see a significant spike in the price of-cigarettes.

In November this year, lawmakers are expected to vote on a bill to enact a 90 percent tax on the sale of e-cigarettes and heat-not-burn cigarettes.

The tax will roughly match the tax treatment of regular cigarettes and tobacco products.

If the measure is approved, it could come into effect as early as December this year.

E-cigarettes have proved to be highly popular in South Korea, with imports of e-liquids rising from 12 tons in 2015 to 61 tons in the first eight months of 2017.

Some industry experts noted that over the last few years, the government has e...

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Cigarette Taxes Lead to Robberies

August 8, 2017 Taxation in New Zealand

taxes on cigarettesWELLINGTON – The spike in break-ins in New Zealand has been linked to taxes on cigarettes, and the situation does not look set to improve.

British American Tobacco has suggested that the steady increases in the taxes charged on the sale of cigarettes in New Zealand could be the reason behind the recent spike in robberies around the country.

Currently, approximately 75 percent of the cost of cigarettes in New Zealand is comprised of taxes, with the average cost of a pack of 20 sitting at NZD 23.40.

Only 5 years ago the average price was approximately NZD 14.50.

The 60 percent increase has been blamed for the recent spike in robberies and break-ins, especially in cases where small corner stores were the victims.

New Zealand has raised taxes on cigarettes by 10 percent per year for the las...

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NZ Researchers Say Double Tax Hikes on Cigarettes

August 2, 2017 Taxation in New Zealand

Smokefree NZWELLINGTON – New Zealand needs to double-down on its fight against smoking, if it wants to reach its goal of a smoke-free nation.

The result of joint research conducted by the University of Otago in New Zealand and the health advocacy group H?pai te Hauora have led to a push for a doubling of the tax hikes on tobacco products sold in New Zealand.

Currently, the tax rate on tobacco in New Zealand is scheduled to be increased by 10 percent per year on January 1st, until 2020.

The hikes are part of the government’s “Smokefree 2025” strategy, which is intended to see a reduction in smoking rates in the country, to the point where less than 5 percent of New Zealanders are smokers by 2025.

The researchers are now claiming that in order to meet the goal, the government will need to incre...

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Saudi Arabia Launches Cigarette Tax

June 12, 2017 Taxation in Saudi Arabia

Smoking in Saudi ArabiaRIYADH – Smoking in Saudi Arabia is about to double in price, as the government begins taxing harmful activities.

On June 11th the sale of cigarettes in Saudi Arabia became taxable, resulting in a significant hike to the price of tobacco sold in the kingdom.

The tax on tobacco is set at a rate of 100 percent, and is expected to be passed on entirely to the consumer.

Similarly, a new tax was also enacted on the sale of energy drinks, with a rate set at 100 percent.

Soft drinks have also now fallen into the tax net, however, the rate on such drinks is only 50 percent.

The average price of a pack of cigarettes in Saudi Arabia has now risen to between SAR 18 and SAR 24.

The new tax is intended to raise extra revenues for the government, which has been suffering in the wake of falling oil pri...

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Cigarettes and Soda to be Taxed in Saudi Arabia

February 22, 2017 Taxation in Saudi Arabia

Cigarettes in Saudi ArabiaRIYADH – Saudi Arabia is taking steps to raise revenues which are not reliant on oil, with cigarettes and soft drinks set in the sights of the tax authorities.

On February 20th, the Council of Ministers of Saudi Arabia granted permission to the national Ministry of Finance to set a date for the implementation of selective taxes on cigarettes and soft drinks.

The new taxes are part of an agreement made by all the national of the Gulf Cooperative Council in 2015 to begin implementing a uniform tax system across the nations.

The tax measure was approved in Saudi Arabia in late 2016.

Saudi Arabia is the first country in the GCC to have gone so far as to allow their Ministry of Finance to set a date for the implementation of the selective taxes.

The taxes in question will see a 100 percent ...

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