Cigarettes could cost $5 in 2012
PANAMA. A new bill that will increase the export tax by 70 percent on cigarettes, cigars and other tobacco products has been proposed b...
PANAMA. A new bill that will increase the export tax by 70 percent on cigarettes, cigars and other tobacco products has been proposed by the legislators Alcibiades Vasquez and Jose Blandon.
The legislation proposes to increase the tax gradually, once the statute is implemented the tax will increase by 30 percent, in June 2010 will be 40 percent, July 2010 50 percent, in 2011 is going to be 60 percent, until June 2012, 65 percent and finally from July 2012 the tax is going to be 70 percent.
All those increases that the price of a packet of cigarette is going to be $5 in 2012, instead of $1.75, that is the current price.
Vasquez said that the law must be changed to protect the population from the illnesses that smoking causes.
“Furthermore, the tobacco industry only gives to the State $15 million, while the government has to spend over $100 million on smoking related illnesses.
The legislator is responsible for introducing the law that limit places in which smoking is allowed.
The project has received the support of the government which see tobacco as a problem.