Japan's Tobacco Tax to Increase Cigarette Prices by 33%: Video

Dec. 28 (Bloomberg) -- Bloomberg's Mike Firn reports on Japan's plan to raise tobacco taxes for t...  More »

Dec. 28 (Bloomberg) -- Bloomberg's Mike Firn reports on Japan's plan to raise tobacco taxes for the first time in four years. The Cabinet approved a plan to raise the duty by 3.5 yen (4 cents) per cigarette from Oct. 1 next year, and tobacco companies will charge an extra 1.5 yen each. A pack of 20 cigarettes would increase by an average 100 yen, or 33 percent, to 400 yen. The tax increase is part of Prime Minister Yukio Hatoyama’s pledge to discourage smoking to curb health insurance costs as the population ages. (Source: Bloomberg)  « Less