As per reports, it has been revealed that the Gulf Countries being led by the United Arab Emirates have been planning to double the tax rate in cigarettes. It seems that that they are quite fascinated by the efforts being done by countries, like Australia, London, USA and New Zealand.
They have also been making efforts to bring a decline in the number of smokers. The news has raised concerns among the tobacco industries. They are of the view that if such kind of law gets passed then investment up to $500 million will go in vain.
One of the countries, which are also thinking to take such step, is Philippines. The country has the lowest tax on cigarettes in the world, and it seems that they have realized that it is a high time now to take some strict actions.
The Aquino government said that they have proposed a bill and if gets passed then the law will be finally be in action by 2013. Similar efforts are being done across Gulf as well where planning is going to double the tax rate on tobacco products. It is also possible that health warnings will also be displayed on the cigarette packs.
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