Tobacco companies opposed to proposed tax hikes
Tobacco manufacturers have rejected the government’s proposed tax increases, warning that the move will result in significant losses for them and the state.While appearing before Parliament’s Finance Committee, officials from Leaf Tobacco Company opposed the proposal to increase excise duty by Shs10,000 on every 1,000 sticks of cigarettes.They argued that the tax hike would lead to an increase in retail prices, reduce consumption, and ultimately lower sales and revenue.
