Every Singaporean is talking about yesterday’s budget 2018 speech by Finance Minister, Heng Swee Keat.
From an increase of GST in the coming years to a one-off bonus capped at $300, Singaporeans are either happy or angry.
But I am not here to talk about the business side of things coz’ I am a lost millennial?
So there is bad news for smokers.
Here are 5 facts about the cigarette price increase that was mentioned in Budget 2018.
1) A 10% increase
As part of the government’s effort to discourage smoking, there will be a 10% increase in tobacco excise duty.
2) Cigarettes are going to be more ex now
The revised excise duties will see an increase from $388 per kilo to $427 per kilo which means a stick of cigarette will go up from 38.8 cents a stick to 42.7 cents a stick.
We are literally burning money.
According to a netizen in Hardwarezone, prices have increased when he bought one pack today, from the usual $13 to $14.
3) Beedies, Ang Hoon and smokeless tobacco too
Ang Hoon aka roll-your-own cigarettes will be taxed at $329 per kilo, up from $299. In other words, even if you’re trying to save some money by rolling it yourself, you’ll still be hit.
4) The changes are immediate
According to the Singapore Budget site, the tax changes have already taken effect, from 19 Feb. It’s unknown when shops will start to up the prices; and no, don’t even think of manufacturers or shops absorbing the increase.
5) Will smokers stop?
According to WHO, there will be a 4% decrease in demand for ciggies in high-income countries with a 10% increase in price, Channel NewsAsia reported.
BRB, I am gonna have a recreational crying/smoking session.
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This article was first published on goodyfeed.com
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