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.

Ukraine Military Voices Concern Over Potential Vape and Pouch Ban

Verkhovna Rada is reviewing six bills to regulate new nicotine products such as pouches and vapes. The main bill, No.14110, proposes a total ban on production, import, and sale, while alternative proposals seek regulation instead of prohibition.

Nov.10 by 2FIRSTS.ai

Ispire and IKE Tech Welcome FDA Enforcement Boost, Highlight Need for Tech-Based Controls

Ispire Technology and IKE Tech issued statements after the U.S. FDA received Congressional funding and directives to strengthen enforcement against illicit vaping products. The companies emphasized updated guidance, multi-agency coordination and the role of blockchain and age-verification technologies in preventing illegal imports and protecting youth.

Nov.20

SKE Partners with 7-Eleven Korea, Placing Its Products in Over 5,700 Stores

According to an SKE release published on PR Newswire, the company is expanding its presence in the Korean market through convenience store and specialty retail channels. SKE has partnered with 7-Eleven Korea, placing its products in more than 5,700 stores nationwide, and is also working with OG9’s offline retail and B2B distribution network. On the product side, SKE is focusing on promoting the Crystal Bar TB1000 and Cloud Zero in Korea.

Nov.19 by 2FIRSTS.ai

BAT Launches glo Hilo in Italy, Plans to Add 16 Local Production Lines to Support Mass Manufacturing and Export

BAT Italy has launched the new heated tobacco device glo Hilo in Milan, with sticks 100% made in Italy. The company plans to add 16 new production lines at its Trieste hub to support manufacturing and exports, as part of a €500 million investment in Italy’s next-generation tobacco sector.

Oct.24 by 2FIRSTS.ai