BREAKING NEWS

Lapid signs decree: Cost of cigarettes to rise at midnight

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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