Categories
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· Cigars
non-USA, by Country
· China
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Jump to full article: Global Times (cn), 2009-06-22
Author: Chen Yang
Intro: The government increased the tax on tobacco products on May 1, but informed the public only Saturday.
The tax on cigarettes costing 70 yuan ($10) or more per carton rose from 45 percent to 56 percent, while for products costing less than 70 yuan per carton the rate was increased from 30 percent to 36 percent.
The tax on cigars went up from 25 percent to 36 percent, and all tobacco products are now subject to a value-added tax of 5 percent, the Ministry of Finance and the State Administration of Taxation said.
"The move aims to moderately increase fiscal revenue and perfect the taxation mechanism," the document said without elaborating.
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