Singapore Government to Increase Tobacco Tax in 2023

Feb.15.2023

Singapore to raise tobacco tax by 15% from Feb 2023, to curb consumption and generate an extra $100m annual tax revenue.

The Singapore government will be increasing the consumption tax on all tobacco products by 15% starting from February 14, 2023. According to Finance Minister Lawrence Wong's budget speech, this move aims to curb consumption.

According to Wong, it is expected that this increase will bring about an additional annual tax revenue of approximately $100 million.

Singapore last raised its tobacco tax in 2018, which saw a 10% increase.

#North America #United States #Market #Disposable e-cigarettes #Singapore #E-cigarette Taxes

This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

Belarus Proposes Criminal Liability for Selling Vapes to Minors

Belarus is discussing the introduction of criminal liability for selling vapes and related nicotine-containing products to minors. During a meeting of the expert council, a draft law regulating tobacco and non-tobacco nicotine products received support from most members.

Dec.15 by 2FIRSTS.ai

UK Government Announces Tougher Vape Controls with QR-Based Stamp System

The UK government will introduce a digital stamp system for all vape products, paired with new enforcement powers including £10,000 fines and possible imprisonment for illegal sales. The measures aim to curb the booming black market and complement restrictions under the Tobacco and Vapes Bill, including future regulation of flavours, packaging, and advertising.

Nov.24 by 2FIRSTS.ai

Philip Morris USA Reaches $66M Settlement With Washington State Over MSA Payment Dispute

Philip Morris USA has reached a settlement with Washington State and agreed to pay $66 million to resolve disputes over annual payments under the 1998 Master Settlement Agreement (MSA) for the period 2005–2015.

Nov.04 by 2FIRSTS.ai

Denmark Proposes Sharper Tax Hike: Heated Tobacco Up 132%, Nicotine Pouches Facing 1,000% Increase

According to foreign media, the European Union will examine a strengthened Danish proposal to amend the Tobacco Excise Directive. The plan introduces sharper tax increases on heated tobacco, nicotine pouches and other products. Despite overwhelming public opposition in earlier consultations, the revision continues to move forward, raising concerns about supply chain impacts and potential growth in illicit trade.

Dec.04