Post by angryumpire on Oct 18, 2011 6:40:30 GMT 2
Phillip Morris becomes the first company to announce a big price hike in cigarettes after a government decision to increase the special consumption tax on tobacco over the weekend. Japan Tobacco and British American Tobacco have followed. The hike is excessive, says a tobacco organization.
Price hikes will cause more tobacco products to be sold over the black market.
Tobacco companies active in Turkey have taken advantage of a new tax regime to hike prices on their products by more than five times the actual rise in tax per one packet of cigarettes
Prices have increased by 2 lira a packet, but the tax increase should only increase the price by 50 - 70 kurus.
Explain that Mr. Tobacco Company.
