Doctors group back higher ‘sin’ taxes for tobacco, alcohol
The Philippine Medical Association (PMA) through its President Oscar D. Tinio, M.D. expressed full support to President Benigno Aquino III’s call for higher ‘sin’ taxes to generate additional tax revenue for the government. This came following the PMA’s issuance of a nationwide resolution prohibiting medical practitioners from smoking over the weekend. President Aquino had earlier said he favors an increase in taxes for tobacco products and alcohol, adding that it wouldn’t harm lovers of tobacco or alcohol if they have to pay more in the future because this would be employed to reduce the consumption of something socially unwanted. The government has yet to make its stance clear about the sin tax but health officials claim that sin tax would substantially diminish consumption of cigarettes and spirits. “The Philippine Medical Association (PMA) believes that … Read entire article »
Filed under: Cigarette taxes
War Against Cigarette Manufacturers- Research on Philip Morris Inc. and Lorillard Inc.
Wall Street Equity Research gives shareholders valuable insight on cigarette stocks Philip Morris International Inc. (PM 55.29, -0.26, -0.47%) and Lorillard Inc. (LO 78.70, -1.33, -1.66%) . The cigarette industry is facing a number of challenges recently, as governments around the world continue to increase tobacco taxes, and a new proposed ban on menthol cigarettes in the U.S. could hurt sales for companies such as Lorillard Inc, it is the producer of Kent cigarettes. Wall Street Equity Research is a specialized website where investors can have specific access to free reports on the cigarette industry; traders looking for analyst opinions on Philip Morris International Inc., Lorillard Inc. and other companies in this industry. Japan has recently announced a tax increase of 40% on cigarettes. While the move is designed to making smoking … Read entire article »
Filed under: Cigarette taxes
Minneapolis business facing felony tobacco tax charges
The Minnesota Department of Revenue announced Wednesday that the Hennepin County Attorney’s Office recently charged West Bank Grocery of Minneapolis with three felony tax crimes. The business is charged with one count of purchasing tobacco products from an unlicensed distributor, one count of possessing untaxed tobacco products and one count of providing a false invoice to the department. According to the complaint, a routine tobacco inspection led to department agents finding a large quantity of tobacco products which were untaxed. The store was unable to provide invoices for the tobacco products. Two weeks later, a handwritten invoice was provided to the department showing the tobacco retail price to be $1,390 and did not indicate if Minnesota tobacco tax had been paid. The invoice was determined to be false. The original invoice shows tobacco … Read entire article »
Filed under: Cigarette taxes
Cigarette sales down in 2010 after price hike
The year 2010 will apparently be worse for cigarette producers and sellers in the Czech Republic than last year because the January VAT hike followed by the February increase of excise duty on cigarettes has cut their consumption, according to Philip Morris’s half-yearly report, which is the leading tobacco company and manufacturer of Marlboro cigarettes. The tobacco market increased by 8.5 percent in Jan to March this year, but Q2 saw a drop of almost 6 percent, CTK has learnt from the report of the biggest producer of tobacco products in the Czech Republic. Cigarette consumption is expected to be lower also during the remaining months of the year, according to the report. Tobacco producers say that raising taxes on cigarettes aimed at regulating the consumption of these harmful products and bringing … Read entire article »
Filed under: Cigarette taxes
NY state cigarette tax hike burns collections: group
New York state’s cigarette tax revenue from convenience stores fell in the first six weeks after a steep tax increase, as consumers turned to Native American reservation stores, a convenience store group said on Wednesday. New York state boosted the cigarette tax to $4.35 a pack from $2.75 on July 1 as one of a series of measures designed to help close a $9.2 billion deficit for fiscal 2011, giving it the highest cigarette tax rate in the country. Even cigarette brands like Winston or Marlboro were tax raised. With the per-pack price rising to a range of $9 to $12, “aghast” smokers flocked to tribal stores, which are tax-free, the black market, and border states with lower cigarette taxes, said the New York Association of Convenience Stores. Erik Kriss, a spokesman for … Read entire article »
Filed under: Cigarette taxes
Cigarette Sales On Rise in Maine
For the first time in several years, cigarette sales in Maine increased, reports theBangor Daily News.As measured by the sale of the state’s tax stamps that are required on every pack sold within the state, sales have increased five percent since January, an unprecedented rise, according to Main Revenue Services. “This is the first time that anybody at[Maine] Revenue Services (MRS) can remember where we actually had an increase in our cigarette stamp sales, and it has been a five percent increase since the start of the calendar year and that is unheard of,” said Mike Allen, research director at MRS. Allen said that Maine cigarette tax stamps sales have decreased one or two percent every year, though for the fiscal year that ended June 30, sales were … Read entire article »
Filed under: Cigarette brands, Cigarette taxes
New market research on tobacco
Global Food, Beverage & Tobacco industry profile is an essential resource for top-level data and analysis covering the Food, Beverage & Tobacco industry. It includes data on market size and segmentation, plus textual and graphical analysis of the key trends and competitive landscape, leading tobacco companies and demographic information.Topics covered include ice cream, beverages, alcoholic drinks, soft drinks, canned food, dried food, oils and fats, dairy, produce, fruit and vegetables, organic food and many other food categories and beverage categories. The scope of this report :- * Contains an executive summary and data on value, volume and/or segmentation * Provides textual analysis of Global Food, Beverage & Tobacco’s recent performance and future prospects * Incorporates in-depth five forces competitive environment analysis and scorecards * Includes a five-year forecast of Global Food, Beverage & Tobacco * The … Read entire article »
Filed under: Cigarette taxes
NY cigarette tax hike aproved
Tobacco users in New York will be taking another hit to their wallets after new cigarette and tobacco tax hike was approved. Smokers can expect to pay over $11.00 per pack with the new $1.60 per pack tax. New York has the highest cigarette tax and the price hike is effective starting on July 1, 2010. Smokeless tobacco products weren’t left unscathed in the tax increase, consumers that use this product can expect to pay $2.00 an ounce tax – over a double from the current .96 cents an ounce. This tax will be enforced beginning on August 1, 2010. Cigars, dips and other tobacco products will jump from a 46% tax to a 75% tax. New Yorkers – there’s no time like the present to start a tobacco cessation plan or … Read entire article »
Filed under: Cigarette taxes
Perceived access to cigarettes predicts youth smoking
For the past 14 years, cigar connoisseurs could go into the Uptown Cigar Company to smoke and socialize with others who shared a passion for the stogie. People use different types of brands from Marlboro cigarettes to Doina Menthol cigarettes but in other places, because there they use cigar for pleasure. That will all change at the end of the month, when owner Michelle Tuchman closes the doors to her Uptown businessTuchman said state tobacco taxes are forcing her to abandon her retail store at 32 John St. and move her Internet business to Florida, where she will be able sell her products free from the high excise taxes New York state levies. “The rising costs of doing business here in New York no longer allows me to offer my customers … Read entire article »
Filed under: Cigarette taxes
More tough decisions on tobacco
Any Bhutanese found smuggling, supplying or distributing tobacco products shall be punishable with a minimum sentence of felony of fourth degree – a prison term ranging from three to five years without thrimthrue (payment in lieu of imprisonment). This was decided yesterday at the joint sitting of parliament, while discussing the tobacco control bill, 2009. Parliament also decided that any Bhutanese selling tobacco products would be punishable with misdemeanour, if the source of supply is revealed. “If the accused fails to disclose the source, he or she shall be liable for the offence of smuggling, in addition to the offence of illegal sale.” This was proposed by the joint committee of the two houses after the bill was discussed in the two houses last year, during the fourth parliament session. The two … Read entire article »
Filed under: Cigarette taxes
Tobacco tax for prevention-not respected
Fourteen states and the District of Columbia raised cigarette taxes in 2009, but none of the new money went to programs to cut smoking and prevent tobacco-related disease, U.S. health officials . Higher cigarette taxes can substantially curb smoking but states can make an even bigger dent by investing the new funds in programs to help people quit, the U.S. Centers for Disease Control and Prevention said. “None of the 15 states dedicated any of the new excise tax revenue by statute to tobacco control,” lead author Karen Debrot of the CDC’s Office on Smoking and Health wrote.Tobacco use is the leading cause of preventable death in the United States, causing nearly one in five deaths per year, according to the CDC.All 50 states and Washington, D.C., have cigarettes taxes. The national … Read entire article »
Filed under: Cigarette taxes
South Carolina Cigarette Tax Won’t Supply Projected Revenue
The South Carolina Legislature voted to override the Governor’s veto, and raised the state’s cigarette tax by more than 700% to 57 cents per pack. The maneuver is touted as a way to reduce smoking, particularly among youth, and as a major new revenue source for the state government. Unfortunately, it cannot do both effectively, and as such, it is more likely to burden the state than aid its struggling finances. Smoking_cigarettes in the bed The South Carolina government has made a fatal mistake. They’ve already allocated $136,000,000 in supposed cigarette tax revenues for FY2010, but the new tax will likely fall far short of that projection. Given the FY2009 sales of 380.8 million packs and an implementation date of July 1, to arrive at $136 million, the state must assume … Read entire article »
Filed under: Cigarette taxes
Tobacco facts
- Healthier alternative to conventional cigarettes May 18, 2012
- Healthier alternative to conventional cigarettes May 18, 2012
- Monterey County passes through tobacco sales law May 17, 2012
- The new target audience of Big Tobacco May 16, 2012
- Philip Morris CEO’s $6 Million Sale May 15, 2012
© 2012
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