Finance minister Enoch Godongwana has announced that taxes on cigarettes and alcohol will be raised in 2023 – but lovers of sugary drinks will catch a break. Delivering his 2023 budget speech, the minister said that no major tax developments were being announced for 2023, at least on the budget’s revenue side. This was due to...
Economic experts have called for a review of the government’s 2022-2025 fiscal policy to save Nigeria’s Tobacco industry from collapse due to heavy taxes. Also, they stated that businesses in the sector might go moribund in the next three years if the Federal government implements its new tax regime. The Ministry of Finance, Budget and National...
Hong Kong authorities are likely to announce a steep rise in the price of cigarettes next year, reports The Standard. In an attempt to cut smoking prevalence to 7.8 percent by 2025 from 10.2 percent today, the special administrative region wants to increase the price of a pack of cigarettes to HKD100 ($12.82) from HKD59, Hong...
Tobacco industry political activity remains a largely overlooked obstacle in the development and implementation of policies to regulate industry activities. From their marketing strategies to their so-called Corporate Social Responsibility (CSR) activities and their buying of scientific and other expertise to create controversy about established facts, the tobacco industry is never away from duty. Tonnes...
NAIROBI, Kenya, Jul 8 – A recent report by the National Taxpayers Association says the Ministry of Health’s programmes involved in tobacco control are grossly underfunded, which means they cannot effectively fight the vice. According to the study, the Tobacco Control Board and Division of Noncommunicable diseases (NCD), are consistently underfunded. The survey showed that the...
According to them, increasing excise on all tobacco products can be a very effective policy measure to address the immediate need to raise revenue by the central government. Public health groups, along with economists and doctors, have urged the government to increase excise duty on all tobacco products in the Union Budget of 2022-23 to...
Massachusetts could see moist snuff rise to more than $20 a can, according to the Tax Foundation. WASHNGTON, D.C. — While no tax hikes are set in stone, a proposal to increase the federal excise tax for tobacco products could have a dramatic impact at retail. The Tobacco Tax Equity Act of 2021 would close tax code...
The current spending package being spearheaded by congressional Democrats could be a truly transformational achievement, solving many of the systemic and near-term problems facing the American people. However, many of this bill’s benefits could be entirely counteracted if lawmakers include a provision called the Tobacco Tax Equity Act. This bill, first introduced last spring, has flown...
The Court of Tax Appeals (CTA) denied for lack of merit the petition filed by British American Tobacco (BAT) seeking a tax refund of PHP305.82 million representing excise taxes prepaid for 2017. In a decision dated June 28, the tax court's Second Division said there should be strict compliance with the requisites under the law...
PROPOSED limitations on interaction between public bodies/personnel and tobacco products companies raised temperatures at yesterday's meeting of a joint select committee reviewing smoking regulations. The limitations included in Article 5.3 of the World Health Organization's (WHO) Framework Convention on Tobacco Control (FCTC) states: “In setting and implementing their public health policies with respect to tobacco...
