News Briefs

  Av 6, 5772 , 25/07/12

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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Other archived news briefs:Jul 25 2012, 10:30 PM, 7/25/2012