Italian PM Approves 2024 Budget Proposal Raising Cigarette Taxes
According to a report from ANSA on October 24th, Italian Prime Minister Giorgia Meloni has approved a draft budget bill for the year 2024 worth 24 billion euros. The proposal increases the specific tax component on cigarettes and the minimum tax burden, resulting in a hike of 10 to 12 euro cents per pack starting next year.
In addition, the budget has confirmed plans to increase the tax on heated tobacco products in 2024 and 2025, with a further increase of one percentage point in 2026. Similarly, the price of loose cigarettes will increase by approximately 30 cents per pack. Starting from 2025, the price of e-cigarettes will increase by 1% annually.
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