Finance minister raises cigarette taxes in first round of austerity plan

26.07.2012                      07.Aw. 5772

Steuern:

Finance minister raises cigarette taxes in first round of austerity plan

Israel Tax Authority and Justice Ministry are busy preparing new legislation to crack down on tax cheating, which they hope will increase tax revenues by NIS 2 billion in 2013.

Finance Minister Yuval Steinitz raised taxes on cigarettes and other tobacco products last evening. Smokers will be adding about NIS 1 billion to state tax revenues after Steinitz signed the new regulations on Wednesday. and a packet of cigarettes will cost NIS 2.50 to NIS 3 more. Steinitz also levied a 10% tax on existing cigarette inventories held by businesses….