• April 17, 2024

New Year, New Taxes

 New Year, New Taxes
Image: Xuejun Li

Tobacco taxes increased in several countries at the start of 2024.

In Sri Lanka, an upward revision in excise duty and value added tax prompted market leader Ceylon Tobacco Co. to raise the price of four cigarette categories by LKR5 ($0.02), LKR15, LRK20 and LKR25 per stick, respectively, reports the Asian Mirror.

The government justified the tax hikes by its desire to boost revenue streams while discouraging tobacco consumption.

Azerbaijan, meanwhile, increased the excise rate for cigarettes from AZN38 ($22.35) per 1,000 sticks to AZN45.5 per 1,000 sticks, according to AzerNews. The excise rate for cigarillos went from AZN43 per 1,000 sticks to AZN45.5 per 1,000 sticks.

E-cigarettes and heated tobacco products are now subject to a tax of AZN16 per 1,000 units, compared with AZN14 per 1,000 units in 2023. 

The excise rate for single-use electronic cigarettes, hookahs and their substitutes went up from AZN0.25 manats to AZN2.

In Belgium, as new e-liquid tax took of €0.15 per milliliter took effect on Jan. 1