Cigarettes to cost more after VAT hike

Friday, 2 September 2022 00:22 - - {{hitsCtrl.values.hits}}

The prices of each category of cigarettes was increased by Rs. 3, Rs. 5, Rs. 10 and Rs. 15 each as a result of the increased VAT in the mini-Budget.

Presenting the interim Budget for the remainder of the fiscal year 2022 on Tuesday, President and Finance Minister Ranil Wickremesinghe said VAT would be increased from 12% to 15% effective from 01 September.

The original Budget presented in November last year also increased the cigarette prices by Rs. 5.