Tobacco Companies’ Taxes Raise by 81pc
Recent reports in the Irish Daily mail show that tobacco companies have spent about €500 in taxes which is an 81pc increase since last year. This tax is leading to a packaging ban. Companies will be allowed to sell the product that they have in stock until May 2017.
According to reports from the Central Statistics Office, there has been an increase in the volume of cigarette imports in the country. In the first few months of 2016 over 600 tons of tobacco were imported into the country.
The introduction of this legislation is meant to deter people from purchasing the product. This is also a measure to keep children from picking up smoking.