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
4 Kashmiri men held at airport for smuggling Indian currency
Four Kashmiri men were arrested by the customs officials, in coordination with...
As prices soar, gold seizures by Customs hits all-time high in Chennai
Spiralling gold prices and a sagging economy may have dampened the spirits of...
Gold worth₹4 cr. seized from eight passengers
Customs officials at the Chennai airport seized 9 kg of gold worth ₹4.5 crore...
Leicester man jailed after gang caught with 1.2 million illegal cigarettes.
A man from Leicester caught red-handed in a car park has been jailed for his role...

