• June 15, 2024

Brazil Mulls Higher Minimum Price

 Brazil Mulls Higher Minimum Price
Photo: Taco Tuinstra

Brazil’s plans to raise the minimum cigarette price, reports Reuters, citing a government source. The goal is reportedly to offset losses from tax benefits granted to companies in some sectors and small municipalities.

Brazilians now pay at least BRL5 ($1) for a pack of 20 cigarettes.

The finance ministry’s executive secretary, Dario Durigan, told reporters the government was not raising taxes on cigarettes. He did not comment on the reports of plans to raise the minimum price to sell them.

Finance Minister Fernando Haddad said on May 27 that measures to increase revenue are ready and that the government is considering whether to send them to Congress this week or next via an executive order.