Hong Kong Government Proposes Significant Increase in Tobacco Taxes

Regulations by 2FIRSTS
Feb.28.2024
Hong Kong Government Proposes Significant Increase in Tobacco Taxes
Hong Kong proposes immediate tax hike on cigarettes in 2024-25 budget, aiming to reduce tobacco use effectively.

According to a report by RTHK on February 28, Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan Mo-po, stated in the "2024-25 Budget" that the government proposes an immediate increase of 0.8 HK dollars in tax on each pack of cigarettes, and a proportional increase in the tax rate of other tobacco products, with the same magnitude as last year.

Hong Kong Government Proposes Significant Increase in Tobacco Taxes
Original text of the budget bill | Source: Financial Secretary of the Hong Kong Special Administrative Region

 

Sources say that this year, the tobacco tax has increased by 31.92%. Calculated based on a pack of 20 cigarettes, the average retail price per pack is 93.68 Hong Kong dollars, with 66.12 Hong Kong dollars being the tax.

 

HK Underground Market Investigation: How to Get a Vape under Ban
Click on the image to read "HK Underground Market Investigation: How to Get a Vape under Ban"

 

Secretary for Food and Health Chen Maobo believes that increasing tobacco taxes is an internationally recognized measure to effectively reduce tobacco use. It is expected that the proportion of tobacco tax to the retail price of cigarettes will increase to about 70%, gradually moving towards the World Health Organization's recommended level of 75%, to strengthen smoking cessation incentives and protect public health. It is worth noting that this year marks the second consecutive year of tobacco tax increases, with a planned 30% increase in 2023. At that time, it was suggested to immediately raise the tobacco tax on each cigarette by 0.6 Hong Kong dollars.

 

Notice

1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.

2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.

3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.

Copyright

This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.

This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.

Former Head of FDA’s Tobacco Center, Brian King, Joins the Campaign for Tobacco-Free Kids
Former Head of FDA’s Tobacco Center, Brian King, Joins the Campaign for Tobacco-Free Kids
The Campaign for Tobacco-Free Kids announced the appointment of Brian King as Executive Vice President for U.S. Programs, overseeing tobacco control efforts at the federal, state, and local levels. King previously served as the Director of the Center for Tobacco Products (CTP) at the U.S. Food and Drug Administration (FDA).
May.06 by 2FIRSTS.ai
Russia Proposes Using Tobacco License Fees to Fund COPD Treatment
Russia Proposes Using Tobacco License Fees to Fund COPD Treatment
Russia’s Democratic Forces have proposed using revenue from retail licenses for nicotine-containing products to fund treatment for chronic obstructive pulmonary disease (COPD).
May.19 by 2FIRSTS.ai
UK Retailers Urge Government Dialogue on Tobacco Bill Impact
UK Retailers Urge Government Dialogue on Tobacco Bill Impact
24 UK retailers urge government to discuss the harmful effects of Tobacco and Vapes Bill, concerned about potential closures.
Apr.21 by 2FIRSTS.han
Scoil Parent Company Winbond Technology Reports 90% Drop in Q1 2025 Net Profit, Revenue Falls 28% to 1.338 Billion Yuan
Scoil Parent Company Winbond Technology Reports 90% Drop in Q1 2025 Net Profit, Revenue Falls 28% to 1.338 Billion Yuan
The report reveals a 28.29% year-on-year decline in operating revenue to 1.338 billion yuan (RMB), while net profit attributable to shareholders of the listed company plummeted 90.43% to 15.1642 million yuan. Notably, selling expenses surged 103.08% year-on-year, which the company attributes to intensified global market expansion efforts to bolster its international strategic footprint.
Apr.27 by 2FIRSTS.ai
Malaysia Tightens E-Cigarette Regulations, Expands Enforcement to Ads, Packaging, and Sales
Malaysia Tightens E-Cigarette Regulations, Expands Enforcement to Ads, Packaging, and Sales
Malaysia’s Health Ministry has unveiled stricter e-cigarette regulations, covering registration, advertising, packaging, and display—aimed at protecting minors. The health minister noted the rules are dynamic and will be updated as new evidence arises. As for calls for a total ban, he said that falls under local government authority.
Apr.25 by 2FIRSTS.ai
Imperial Brands Releases Study: Adult Smokers Reduced Cigarette Consumption After Using blu E-Cigarettes, with Flavours Playing a Key Role in Switching
Imperial Brands Releases Study: Adult Smokers Reduced Cigarette Consumption After Using blu E-Cigarettes, with Flavours Playing a Key Role in Switching
Two new studies from Imperial Brands show that adult smokers significantly reduced their cigarette use after switching to blu vapes, with flavors playing a key role.
Jun.17