Tax up in Thailand

Thailand’s excise tax on tobacco products has increased from 87 percent to 90 percent, reports The Nation.

The Cabinet approved the Finance Ministry’s move on Feb. 9. The government aims to raise revenue by about thb15 billion ($425.6 million) per year from thb60 billion.

The tax hike is expected to increase retail cigarette prices by thb5-thb10 per pack.

The higher tax rate is also expected to reduce the number of smokers. According to Thai Health Promotion Foundation, there are about 12 million smokers in Thailand.