Import duty hiked for cigarettes and energy drinks
The price of a pack of cigarettes has shot up from MVR48 (US$3.11) to about MVR75 (US$5) after the import duty hike from MVR1.25 to MVR2 per cigarette came into effect. The price of a single cigarette is up from MVR2.50 to about MVR4.
05 Mar 2017, 9:00 AM
President Abdulla Yameen ratified Thursday import duty hikes approved by parliament for cigarettes and energy drinks.
The price of a pack of cigarettes has shot up from MVR48 (US$3.11) to about MVR75 (US$5) after the import duty hike from MVR1.25 to MVR2 per cigarette came into effect. The price of a single cigarette is up from MVR2.50 to about MVR4.
The parliament also approved charging an additional 25 percent of the invoice value for all tobacco items.
With the higher tariff of MVR33.64 (US$2.2) per litre, the price of energy drinks has also increased by about MVR8. The tariff for soft drinks was hiked to MVR4.60 per litre.
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