In a move to discourage excessive consumption of tobacco products, alcoholic and artificially sweetened beverages Government has increased taxes on these products.
Minister of Finance Camillo Gonsalves during the presentation of his 2019 budget said that for cigarettes containing tobacco, the excise will increase from $1.55 per 100 sticks to $2.75 per 100 sticks.
Unmanufactured tobacco, will see an increase from 6 percent to 10 percent. Cigar products will see excise duty going from 14 percent to 20 percent.
Other tobacco substitutes will go up from 6 percent to 10 percent.
Water, including mineral water and aerated waters containing added sugar or other sweetening matter or flavoured, the rate will increase from 10 percent to 20 percent.
Alcoholic beverages, undenatured ethylalcohol of an alcoholic strength by volume of 80 percent or higher – the rate will increase by 10.7 percent.
Brandy, Whiskies, Gin , Vodka and rum in bottles of strength not exceeding 46 percent volume etc, will be increased by 20 percent.
Gonsalves stressed that the excise duties to be imposed on the products aims to promote healthy living along with fiscal measures that assist in government’s continued fight against the increased prevalence of NCDs and their deadly impact.
The measures on those categories of products are expected to yield additional revenue of $3.7 million.
