November 12, 2021 05:57 pmFinance Minister Basil Rajapaksa, in his budget speech for the fiscal year 2022, said the tax on cigarettes is proposed to be increased with immediate effect. Accordingly, the current retail price of a stick of a cigarette will be moved up by Rs. In addition, the excise tax is proposed to be increased with immediate effect. An additional revenue of Rs. 25 billion is expected through this tax increase.

Source: The Nation November 12, 2021 19:02 UTC