Price rise discounted
PA Auckland Assertions that tobacco prices could rise 15 to 16 per cent with the October 1 tax shake-up are exaggerated, says a top Treasury official. The official, who declined to be named, said introduction of the goods and services tax would have little effect on the price of tobacco as other
tax charges would then be scaled down. Sales tax on tobacco, set at 105 per cent in the Budget, would decrease to 90 per cent and be incorporated in the exise duty. Sales tax will, largely disappear from October. The increased exise duty would be paid by the wholesaler, whereas sales tax was paid by the retailer.
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Press, 28 August 1986, Page 3
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112Price rise discounted Press, 28 August 1986, Page 3
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