From Wednesday, February 15, cigarettes will be more expensive. As determined in the maneuver, a 20 euro cent hike per package comes into effect. The increase concerns the best-known brands Merit, Chesterfield, Philip Morris, Winston and Camel, as well as some Marlboro breeds. With the aim of gradually reducing cigarette consumption, further increases are expected in the next few years. In fact, the fixed amount per unit product will increase to reach 28 euros per thousand cigarettes in 2023. From 2024, the cost will instead be 28.20 euros, and in 2025 it will reach 28.70 euros (again, per thousand cigarettes, as provided in accordance with paragraph 122 of article 1 of the law of 29 December 2022).
Therefore, after the 20 cents hike in cigarette packages as of February 15, 2023, another 10-15 cents hike is expected in the next three years. “We hereby declare that for the products included in the price list published on the website of the Customs and Monopolies Authority (www.adm.gov.it), there will be a tariff change that will be effective as of February 15, 2023”, reads the website of the Italian Tobacco Federation.
Obviously, not only will the cost of conventional cigarette packs increase: tobacco for cigars, snuff, pipes and cigarettes, and non-combustion inhalation products (considered “manufactured tobacco”) will also increase. However, considering that the SCT on these products is around 30-35%, while it is 75% for cigarettes, with a wider range of action.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
