Sri Lanka Increases Tobacco Duty
Image: MaciejBledowski | Adobe Stock
The government of Sri Lanka increased the excise duty on alcohol and cigarettes by 20 percent, according to the Xinhua News Agency.
State Minister of Finance Ranjith Siyambalapitiya said the duty was raised to increase state revenue and discourage alcohol and cigarette consumption. In 2021, Sri Lanka collected LKR249.6 billion ($687 million) in taxes from alcohol and tobacco products, according to Siyambalapitiya.