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Prices of cigarettes to shoot up after GCC tax
July 3, 2017, 10:39 am
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Customs fees for tobacco and its derivatives will increase by 100 percent as per the agreement signed by the Gulf Cooperation Council (GCC) on imposing selective commodity tax which will be collected by the Customs Department, reports Al-Shahid daily quoting sources. Sources said the prices of cigarettes in the country are expected to be double the current prices once the abovementioned decision is implemented.

Sources added the prices of various types of cigarettes in Kuwait have been increasing continuously – around 60 to 100 percent. Sources pointed out the volume of Kuwait’s tobacco import is expected to increase to KD 100 million after applying the decision — more than double the volume in fiscal 2014/2015.

Sources went on to say that Kuwait recorded the highest number of smokers among its peers in the Gulf and the percentage increased to 32 percent recently. 

Source: Arab Times

 

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