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Taxes on tobacco and alcohol – raising taxes, “sin”

The taxation of “sin” habits is one of the most basic questions of public policy, to understand. Nevertheless, it is not necessarily so. The proposals always have its opponents. Government-sponsored legislation, House Bill 5727, proposes to increase taxes on tobacco and alcohol, to put them on their way to securing the role that revenues from such taxes, contribute to national progress. The bill also proposes to apply the same tax rates in line with international practice for the domestic sales tax. The structure of the sin tax was set at their current rates in 1996, when Congress passed a comprehensive change in the tax system. Under the guise of reform, what actually happened then was revised excise tax so that tax rates on tobacco and alcohol are returned to the “specific” rates … Read entire article »

Filed under: Tobacco laws

Proposes hike in tobacco taxes

State legislators want to use taxes to curb smoking among young people and get out of debt. Republican lawmakers want to double the taxes on cigarettes and other tobacco products that could burn a hole in the wallets of smokers. At present tax on cigarettes $ 1.23 pack. However, the proposed increase will be more than twice that $ 2.52 per pack. Rep. Mike Benson, R-Rochester, said he proposed House version of the bill, in order to reduce the number of teenage smokers. According to the American Cancer Society, smoking rates among young people will decrease by 6.5 percent for every 10 percent increase in the price of a pack of cigarettes. Supporters of the bill say the increase will bring in $ 320 million over two years, which will allow the state to return … Read entire article »

Filed under: Cigarette taxes

Tobacco firm negotiates tax deal

Revenue Canada is seeking $20 million in unpaid taxes from a Quebec tobacco distributor, but is not demanding any interest or penalties on the shortfall. The government is also negotiating with the company to make a deal on the huge tax assessment in an attempt to keep the company operating, according to documents filed in a Laval court by a bankruptcy trustee and company lawyers. Distribution GVA Inc. and its satellite company Distribution GVA (Canada) Inc., which are owned by Laval businessman Vincent Albanese, last year filed for protection under federal bankruptcy laws because of the $20-million tax assessment. GVA has operated as distributors of tobacco products since 1997. They sell primarily cigars and cigarillos directly to retailers across Canada. During the three years for which the government is seeking $20 million in unpaid … Read entire article »

Filed under: Cigarette taxes

Tobacco firm negotiates tax deal

Revenue Canada is seeking $20 million in unpaid taxes from a Quebec tobacco distributor, but is not demanding any interest or penalties on the shortfall. The government is also negotiating with the company to make a deal on the huge tax assessment in an attempt to keep the company operating, according to documents filed in a Laval court by a bankruptcy trustee and company lawyers. Distribution GVA Inc. and its satellite company Distribution GVA (Canada) Inc., which are owned by Laval businessman Vincent Albanese, last year filed for protection under federal bankruptcy laws because of the $20-million tax assessment. GVA has operated as distributors of tobacco products since 1997. They sell primarily cigars and cigarillos directly to retailers across Canada. During the three years for which the government is seeking $20 million in … Read entire article »

Filed under: Cigarette taxes

Tobacco taxes set to boost smuggling

Big tobacco groups are warning Treasury and Customs officials to brace themselves for a tsunami of smuggled cigarettes hitting Britain’s pubs and streets this year as criminal gangs seek to cash in on the UK’s exceptionally high tax rates on tobacco products. Tobacco companies have told ministers that the “tax clouds are gathering” as George Osborne prepares to push through a second year of above-inflation excise duty rises next month, on top of the already increased rate of VAT. The industry, dominated by Imperial Tobacco, producer of Gauloises Cigarettes and Davidoff cigarettes and Gallaher, claims the rate of smuggling and the volume of contraband sold on Britain’s streets rockets when excise duty goes up. The tax on a packet of 20 cigarettes rose 34p last year and the budget is scheduled to bring the increase … Read entire article »

Filed under: Tobacco companies

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

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