Budget 2023: Smoking becomes more expensive as govt raises tobacco tax

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SINGAPORE – Smokers will have to pay more for cigarettes, cigars and smokeless tobacco from Tuesday, as the Government moves to raise such excise duties by 15 per cent. The increase in excise duty for all tobacco products is expected to generate about $100 million in additional revenue a year, said Deputy Prime Minister and Finance Minister Lawrence Wong, who...

Users will now have to fork out 49.1 cents for every stick of cigarette, up from the current tax of 42.7 cents per stick.SINGAPORE – Smokers will have to pay more for cigarettes, cigars and smokeless tobacco from Tuesday, as the Government moves to raise such excise duties by 15 per cent.

Users will now have to fork out 49.1 cents for every stick of cigarette, up from the current tax of 42.7 cents per stick. It added that the excise tax incidence on the packet of cigarettes will be around 75 per cent before goods and services tax. “This is comparable to countries such as New Zealand, France and Australia,” the ministry said in its reply to queries.

 

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