The price of cigarettes will increase by NT$20 (US$0.6) per pack starting on June 20th
Taiwan News
Date: 2017/05/11
By: Maggie Huang, Taiwan News, Staff Writer
TAIPEI (Taiwan News) — The Ministery of Finance announced Thursday that the
Photo credit: Pixabay
price of cigarettes will increase by NT$20 (US$0.6) per pack starting on June 20th, after the Legislature passed the third and final reading of an amendment to the Tobacco and Alcohol Tax.
The amendment raises the cigarette tax from NT$590 per 1,000 cigarettes (per kilogram) to NT$1,590, which translates into a tax per packet of NT$31.8, up from the current NT$11.8.
The increase will generate NT$23.3 billion in additional tax revenue per year, which will be used to fund the long-term care program for seniors, according to the Finance Ministry. [FULL STORY]