Federal budget: Tax hikes on cigarettes leave smokers digging deeper
OTTAWA — The federal government is substantially hiking taxes on cigarettes, chewing tobacco and cigars — a move that is sure to leave Canadian smokers doing a slow burn and raises the spectre of increased contraband sales. Even so-called “duty free” tobacco won’t be spared the tax hike announced in Tuesday’s budget: They’ll now face the same federal excise taxes as domestic smokes and manufactured tobacco. The government expects to take in an extra $3.3 billion in revenue from the tobacco tax hikes between now and the 2018-19 fiscal year (including $685 million in the 2014-15 fiscal year starting April 1). The move is sure to spark some ill will towards a government that has promised it would not increase taxes on Canadians, as Ottawa looks to balance the books in 2015, partly on the backs of smokers. Minister of Finance Jim Flaherty and Prime Ministers Stephen Harper enter the House of Commons on budget day on Parliament Hill in Ottawa on Tuesday, February 11, 2014.
Related Posts
Nike Shoes Among Most Counterfeited Goods in the World
The market for fake goods is on the rise, with international trade in...
China rejects claims of producing fake medicine for Africa
China has denied allegations that it has been exporting huge amounts of...
Call to give seized counterfeit goods to those in need
A Consumer group is urging the commerce ministry not to dump thousands of...
Patna police seize huge amount of liquor from train.
PATNA: Liquor worth lakhs of rupees were seized and six people were held from a...