tobacco taxation tagged posts

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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Tobacco Tax Hikes Boosts Smoking in S.Korea

January 25, 2017 Uncategorized

Cigarette taxesSEOUL – While tax hikes on cigarettes are aimed at reducing the consumption of tobacco, it appears that the latest hike in Korea has led people to smoke more.

New information released over the weekend has shown that the number of cigarettes sold in South Korea rose shortly after the government instituted a hike in the rate of tax on the sale of cigarettes.

In 2015 the government of Korea raised the tax on the sale of cigarettes from KRW 2 500 per pack to KRW 4 500 per pack.

The year prior to the implementation of the tax hike, the number of cigarettes sold in the country was approximately 85.3 billion, a 17 percent rise compared to the previous year.

In the year of the price hike the number of cigarettes sold fell to 66.7 billion.

However, in 2016 the amount sold had risen to 72...

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WHO Calls for Hike on Cigarette Taxes

January 13, 2017 International Tax Cooperation

Cigarette taxes should be hikedGENEVA – More than 66 million smokers worldwide would drop the habbit, if excise taxes on cigarettes were bumped up slightly.

Minor increases in the taxes levied on the sale of cigarettes worldwide could raise billions in extra tax revenues, while also saving millions of lives, according to the results of a new study released jointly by the World Health Organization and the U.S. National Cancer Institute.

It was estimated in the report that smoking results in approximately 6 million death each year, and carries a global financial burden equivalent to USD 1 trillion in healthcare costs and lost productivity.

It is estimated that global excise taxes on tobacco generated USD 269 billion between 2013 and 2014, and less than USD 1 billion of the collected total was diverted to tobacco preventi...

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8 Million Smokers Quit After Tax Hike in Philippines

December 5, 2016 Taxation in Philippines

Taxes on Cigarettes in PhilippinesMANILA – Tax hikes on cigarettes have forced my Filipinos to quit, but it now seems manufacturers may be trying to flood the market before another round of tax hikes hits.

In a recent interview the president of the Philippine Society of General Internal Medicine Antonio Miguel Dans reportedly claimed that as many as 8 million locals have quit smoking due to the effect of tax hikes on the sale of tobacco.

The latest round of tax hikes on the sale of tobacco occurred in 2012, and were aimed specifically at reducing consumption of tobacco in the country.

In 2012 the estimated smoking rate in the country was approximately 31 percent, while it has now dropped to 23 percent, a drop equivalent to approximately 8 million people.

The supply of cigarettes in the Philippines between 2012 and 2015 ...

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