10% increase in tobacco excise duty
Bad news for smokers - the Government yesterday announced a 10 per cent increase in tobacco excise duty effective immediately.
In his Budget 2018 speech, Finance Minister Heng Swee Keat said that the increase is to "discourage consumption of tobacco products".
According to a circular issued on the Singapore Customs website yesterday following Mr Heng's speech, these changes mean that a range of unmanufactured tobacco products will see their excise duty raised from $352 a kg to $388 a kg.
The excise duty for other cigarettes containing tobacco and cigarettes of tobacco substitutes will now increase from 38.8 cents to almost 43 cents for every gram or part thereof of each cigarette stick.
Cigars, cheroots and cigarillos of tobacco substitutes will now be taxed at $427 a kg, up from $388.