Oct 03, 2016 UncategorizedComments Off on Taiwan to hike cigarette tax by NT$20 per pack
A joint policy meeting of executive and legislative branch officials on Monday resulted in the drafting of a proposal to raise cigarette tax by NT$20 (US0.64) per pack, Cabinet Spokesman Hsu Kuo-yung (???) said.
The new measure, to be finalized by the Legislature, is expected to increase tax revenue by NT$15.8 billion a year, Hsu said, adding that the government has decided to use that amount specifically for funding a long-term care program for seniors and the physically challenged.
Currently, a pack of cigarettes is taxed NT$11.8 plus a surcharge of NT$20. The surcharge will remain the same in the latest government proposal, according to Hsu.
He noted that policy makers decided to increase the tax but not the surcharge on smokers because the tax will better ensure a stable financial source of funding for the long-term care program.