Business / Companies
Sin tax raises local cigarette prices
06 Dec 2011 at 06:09hrs | Views
BRITISH American Tobacco company has raised cigarette prices for most of its brands by between 53 and 85 percent after the increase in excise duty.
Finance Minister Tendai Biti increased the excise duty on locally produced cigarettes from US$7 to US$10 per 1 000 sticks, with effect from December 1.
The excise duty on imported cigarettes was also increased from 40 percent plus US$5 per 1 000 sticks to 40 percent plus US$7 per 1 000 sticks.
BAT's Newbury Extra Mild and Kingsize now cost US$1,50 a pack of 20 cigarettes from US$1 and US$1,20 for Berkeley Extra Mild from US65c.
Prices for Madison Toasted, Kingsgate kingsize and Everest menthol have been increased to US$1 from US65c pack of 20 cigarettes.
Prices for Dunhill Full Flavour and Lights remain unchanged.
Other cigarette producers such as Savanna are yet to review prices.
Finance Minister Tendai Biti increased the excise duty on locally produced cigarettes from US$7 to US$10 per 1 000 sticks, with effect from December 1.
The excise duty on imported cigarettes was also increased from 40 percent plus US$5 per 1 000 sticks to 40 percent plus US$7 per 1 000 sticks.
Prices for Madison Toasted, Kingsgate kingsize and Everest menthol have been increased to US$1 from US65c pack of 20 cigarettes.
Prices for Dunhill Full Flavour and Lights remain unchanged.
Other cigarette producers such as Savanna are yet to review prices.
Source - Herald
