Sri Lanka hikes cigarette, beedi taxes

ECONOMYNEXT- Excise duties on cigarettes sold in Sri Lanka will increase by 12 percent in 2019, Finance Minister Mangala Samaraweera said.

The average increase will be 5 rupees per cigarette stick.

Nation Building Tax will be introduced to cigarettes.

A 2,500 rupee tax per kilo of beedi (a coars cottage industry) ciggarette will be raised to 3,500 rupees, he said.

It will increase the price of a stick of beedi by 50 cents, Samaraweera said.

Excise Duty on cigarettes will be increased by 12 percent as follows;

60 – 67 mm – Rs.19,500/- per 1000 sticks

67 – 72 mm – Rs.23,000/- per 1000 sticks

72 – 84 mm – Rs.37,580/- per 1000 sticks

>84 mm – Rs.42,200/- per 1000 sticks. (Colombo/Mar05/2019-SB)