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      Archive: 7/25/2012

      News Brief

        7/25/2012, Av 6, 5772

      Government Raising Tax on Cigarettes and Alcohol

      Minister of Finance Yuval Steinitz (Likud Party) signed a decree raising the tax on cigarettes and alcohol on Wednesday. Beer was especially singled out for increased taxation. The new order will become effective immediately. In addition, the tax shall be imposed at a rate of about 10% on the existing inventory of cigarettes. He said that the tax hikes will give state treasury a billion shekels a year.

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