- Cancer sticks prices hiked between Rs. 5-25
A Gazette notification has been issued by the Finance, Economic Stabilisation, and National Policies Ministry increasing the excise duty on liquor with effect from yesterday (1 January).
Accordingly, the excise duty on Special Arrack has been increased by Rs. 840 per litre and the excise duty on Palmyrah, Coconut and Processed Arrack has been increased by Rs. 900 per litre of alcohol.
The prices of liquor are thereby expected to be increased with effect from yesterday, following the increase in the excise duty and the increase of Value Added Tax (VAT) to 18%.
The VAT (Amendment) Bill was passed in the Parliament on 11 December of last year (2023), and the relevant tax was thereby approved to be increased by 3%, from 15% to 18%.
The prices of cigarettes have been increased from yesterday under four categories, following the increase in the excise duty and VAT.
Accordingly, the Ceylon Tobacco Company PLC (CTC) said that prices have been increased by Rs. 5, Rs. 15, Rs. 20 and Rs. 25 per stick.