Singapore Raised Tax on Tobacco Products to Discourage Consumption

On February 14, the Singapore government raised the excise duty on all tobacco products by 15 cents to discourage consumption.

According to the speech of Finance Minister Lawrence Wong, the increase in excise duty is expected to generate about $100 million in additional revenue per year.

The Singapore government has released tobacco policies to extinguish the use of all tobacco sold in Singapore. In the past few years, the government has instructed the packaging and concentrated on the health matters of tobacco products by raising the minimum legal age for smoking from 19 to 21 years old. In 2022, smoking was restricted at all public parks, some water sites, and ten recreational beaches in Singapore. According to the statement of Minister of State for Health Koh Poh Koon, the smoking prevalence rate decreased from 11.8 percent to 10.1 percent from 2017 to 2020, which shows that tobacco is controlled successfully.

Reference: Budget 2023: Excise duty on all tobacco products go up by 15% to discourage consumption