Hong Kong Government Proposes Significant Increase in Tobacco Taxes
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.
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.
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.
Disclaimer:
This article is translated from an original Chinese article available on 2firsts.cn by AI, and has been reviewed and edited by 2FIRSTS's English editorial team. The Chinese original text is the only authoritative source of information. The exclusive copyright and license rights to this article are held by 2FIRSTS Technology Co., Ltd. Any reproduction, reprinting, or redistribution of this article, either in part or in full, requires express written permission from 2FIRSTS and must include clear attribution along with a link to this content. Non-compliance may result in legal action. 2FIRSTS Technology Co., Ltd. reserves the right to pursue legal actions in case of unauthorized use or distribution.
