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
Factory making counterfeit Surf Excel detergent powder busted in Delhi, 1 held
A factory manufacturing and selling counterfeit Surf Excel washing powder was...
Smugglers discovered hiding in a South Shields warehouse with 1.5 MILLION illegal cigarettes
A trio of smugglers discovered hiding in a warehouse have been jailed after being...
Here’s How to Spot the Difference Between Real and Fake Designer Bags
Can you spot the fake Birkin above with just a glance*? Natalie Wyll and Alexa...
Alibaba Group signs anti-counterfeiting deal with CBBC
Alibaba Group has signed a deal with a British trade body that will help members...