Tobacco price increase in Israel
The Israeli Finance Minister Yair Lapid signed a decree to raise the sales tax on tobacco products. The new excise tax came into force since Tuesday, May 8.
According to the Lapid's order, the price of cigarettes is expected to increase by NIS 2.5 to NIS 3 per pack. The minimum tax for one pack of cigarettes increased from NIS 12.7 to NIS 15.
Tax authorities indicate that the State is expected to see an income of about NIS 800 million per year as a result of the price increase.