Hiking cigarette prices would make more sense: Economist

Monday, 14 June 2021 00:26 -     - {{hitsCtrl.values.hits}}

Nishan de Mel

Economist Nishan de Mel has said that increasing the cost of cigarettes rather than fuel prices would make better economic sense.

In support of his argument, de Mel, in a tweet, said the estimated loss incurred by not implementing cigarettes tax formulae in 2020 was

Rs. 20 billion, and that the country is set to lose another Rs. 20 billion in 2021.

Quoting Verité Research data, he pointed out that allowing cigarettes to remain under-taxed is a serious failure in Sri Lanka’s economic policy. More insight on the matter is available at veriteresearch.org/insight/cigarette-taxation-rs-20-billion-extra-revenue-in-2020-if-indexation-implemented/.

 

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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.