Lapid signs decree: Cost of cigarettes to rise at midnight

May 7, 2013 22:07

The prices of cigarettes, cigars and tobacco were set to increase by 10 percent at midnight on Tuesday, after Finance Minister Yair Lapid signed a special decree on Tuesday night.

The cost of a packet of cigarettes was to rise by 2-3 shekels (NIS), and the tax on cigars was to rise from 75% to 90%. The move was expected to put an additional 800 million NIS into the state's coffers. 

Additionally, Lapid decided that the minimum tax on a packet of cigarettes will rise from 12 NIS to 15 NIS, and from 75% to 90% on cigars. The Finance Committee will have to approve the price hikes retroactively in two months time, however the decision will take effect on Tuesday night.

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