mercredi 28 janvier 2015

Smoking: Toward an increase in tobacco prices in 2015

The Finance Bill has changed the method of calculating excise duty and indirect tax generally levied on the consumption of luxury goods such as tobacco and alcohol.

Enacted on December 29, 2014 by Paul Biya, President of the Republic of Cameroon, the text provides for a 15% increase of excise duty. It therefore rises from 25% to 40%.
According to information obtained from the Directorate General of Taxation, the new excise duty rates would double the prices of different tobacco products sold in Cameroon.

The civil society welcomes this measure which will reduce drug abuse and smoking among Cameroonians because of a substantial price increase.

This measure reflects the desire of the Cameroonian State to improve the control of these products harmful to health by the World Health Organization (WHO) .This new step should allow an increase in taxes and State revenues.

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