excise duties tagged posts
March 2, 2012 New Zealand Taxation
The number of young smokers in New Zealand is falling to an all time low, as increasing tobacco taxes push cigarettes out of the reach of teenagers.
The latest research conducted by Action on Smoking and Health (ASH) and released on March 2nd, indicates that the number of 14 to 15 year olds in New Zealand who smoke daily fell to 4.1 percent in 2011, compared to 5.5 percent in 2010. Approximately 8.2 percent of respondents claimed to be regular smokers, down 1.8 percent from the number of regular smokers indicated in the results of the same survey conducted in 2010.
The director of ASH Ben Youdan said that the significant drop in smoking rates amongst young New Zealnders is due to the recent price increases of tobacco products because of hikes in excise duties...Read More
June 3, 2010 New Zealand Taxation
Newly revealed documents show that the New Zealand Treasury did not fully support the Government’s latest round of excise duty increases on tobacco products.
On June 2nd a New Zealand Treasury paper was publicized revealing that the New Zealand Government was advised not to carry out the April 28th tobacco excise-duty rate hikes. Under the change, excise duties on rolled-cigarettes increased by 10 percent and 24 percent on loose tobacco. The rates will rise by an additional 10 percent on January 1st 2011 and January 1st 2012. But, the New Zealand Treasury advised Tariana Turia, Associate Health Minister, was advised by the Treasury to “prepare a tobacco control strategy using a range of policy tools,” instead.
According to the Treasury paper “…excise is claimed to be the most effective a...Read More
April 28, 2010 New Zealand Taxation
The New Zealand Government has passed a new law raising national excise taxes on cigarettes and tobacco, with additional increases planned for the next three years.
On April 28th the New Zealand Government announced the passing of laws immediately increasing excises taxes on cigarettes and loose tobacco. From April 29th, the excise duties on cigarettes rose by 10 percent, and 24 percent for loose tobacco sales. A further 10 percent increase is scheduled for all tobacco products on January 1st 2011 and January 1st 2012. Under the immediate change, one kilogram of loose tobacco faces excise taxes of NZD 492.86. According to Government estimates, the changes will yield approximately NZD 205 million annually in extra collections.
Tariana Turia, Associate Health Minister of New Zealand, announc...Read More