(CNA file photo)
Taipei, April 21 (CNA) The price of cigarettes is set to increase by NT$20 (US$0.6) per pack later this year after the Legislature passed the third and final reading of an amendment to the Tobacco and Alcohol Tax on Friday, with the additional revenue to be earmarked for the country's long-term medical care program.
The amendment raises tax on all types of cigarettes from the current NT$590 per kilogram (1,000 cigarettes) to NT$1,590, which translates into a tax per packet of NT$31.8, up from the current NT$11.8.
The increased will generate NT$23.3 billion in additional tax revenue per year, which will be used to finance the long-term medical care services program that aims to make long-term care more accessible, according to the Finance Ministry.
The policy will also help curb tobacco consumption and promote public health, said Finance Minister Sheu Yu-jer (許虞哲) earlier this year.
(By Liu Kuan-ting and Lee Hsin-Yin)