Singapore Market get 15% Tobacco Tax Increase

Yesterday the Singaporean government gave the tobacco industry and the tobacco users in Singapore a valentine’s day present in the form of a 15% tax hike. Effective immediately the tobacco tax  for cigars, cigarillos, cigarettes and manufactured tobacco such as rolling tobacco and pipe tobacco jumped from $427 per kilo to $491 per kilo.

The increase is expected to generate about S$100 million in additional revenue per year.