Although an excise-duty increase on cigarettes by the Nepalese government has been described as “nominal”; it is nonetheless expected to have an impact on the tobacco trade in the long term, according to a Republica story quoting a tobacco manufacturing executive.
In the budget for fiscal year 2014–2015, which Finance Minister Dr. Ram Sharan Mahat unveiled yesterday, excise duties on cigarettes and cigars were raised by NPR500 per 1,000 pieces to NPR3,500 per 1,000.
“Though the government has been increasing excise duty on tobacco products annually to discourage their consumption, it affects traders and manufacturers,” said Ravi KC, vice president of Surya Nepal, the leading cigarette manufacturer in the country.
“Though the hike in excise duty is nominal, the industry is sure to see impact in the long run.”
Category: Breaking News