Sri Lanka Increases Tax on Alcohol and Tobacco

Jan.05.2023

Sri Lanka increased the consumption tax on alcohol and tobacco by 20% to increase national revenue and discourage consumption.

On Tuesday, an official in Sri Lanka announced that the government has increased the consumption tax on alcohol and cigarettes by 20%.

Ranjith Siyambalapitiya, the Minister of Finance and State Minister of Sri Lanka, has announced that in 2021, the country collected taxes (consisting of excise tax and value-added tax) totaling 249.6 billion Sri Lankan rupees (equivalent to $687 million USD) on tobacco and alcohol products.

The Minister of State stated that raising the consumption tax is aimed at increasing the country's revenue while also curbing the consumption of alcohol and tobacco.

According to the Sri Lanka National Authority on Tobacco and Alcohol, approximately 40,000 Sri Lankans die every year due to illnesses related to alcohol and tobacco.

#Asia #Market #China #Disposable e-cigarettes #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.

Swedish Oral Pouch Manufacturer WiJo to Establish U.S. Production Base, Targeting March 2026 Start-Up

Swedish oral pouch manufacturer WiJo Pouches has announced plans to establish its first North American production facility in South Carolina, where it will lease a manufacturing site to produce nicotine, caffeine and functional pouch products. The project, expected to begin operations in March 2026 and create about 170 jobs, has secured tax incentive support from both state and county authorities.

Dec.05 by 2FIRSTS.ai

Philip Morris Japan launches new IQOS SENTIA “Icy Red” flavor with icy menthol and red berry notes

Philip Morris Japan has announced the launch of a new SENTIA Icy Red tobacco stick for its IQOS ILUMA i and IQOS ILUMA heated tobacco devices, featuring an intense menthol profile with red fruit notes. The new product will roll out in stages from December across physical IQOS outlets, online channels and tobacco retailers nationwide in Japan, priced at 530 yen (approx. USD 3.4) per pack.

Dec.01 by 2FIRSTS.ai

PMI Launches New ZYN Nicotine Pouch in the Philippines, Available Simultaneously at IQOS Stores and on the Official Website

PMI’s Philippine affiliate, PMFTC, has launched the new ZYN Bright Green 1.5 mg nicotine pouch in Manila with refreshed packaging, calling it the latest step in the company’s “smoke-free” transition initiated in 2016. The product will be available starting in November at IQOS stores across Metro Manila and on the official website.

Nov.10 by 2FIRSTS.ai

JUUL wins approval after FDA reversal of Marketing Denial Order

JUUL's regulatory journey from Marketing Denial Order to approval showcases FDA's evolving approach to e-cigarette oversight.

Nov.03 by 2FIRSTS.ai