Headlines:
| Finance Minister meets with cigarette distributor |
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| Thursday, 07 May 2009 | |
 One day after Finance Minister Audley Shaw announced a
further increase in the Special Consumption Tax on tobacco products, Executives
at the island's largest cigarette distributor, Carreras Limited, are meeting to
discuss the implications.Carreras markets and distributes the popular "Craven A" cigarette. Come Monday cigarette smokers will have to dig deeper in their pockets. The SCT on cigarettes will move from $6,000 per 1,000 sticks to $8,500. The Government is projecting to collect $1.4 billion from the tax measure. Mr. Shaw also announced that effective Monday beer and spirits, excluding overproof rum, will also attract an increased SCT. $530 million is expected from the hike. |