China to impose consumption tax on e-cigarettes from November
Reuters
Published Oct 25, 2022 03:47AM ET
Updated Oct 25, 2022 04:00AM ET
SHANGHAI (Reuters) - China's Ministry of Finance will impose a consumption tax on e-cigarettes sold in China from Nov. 1, according to a notice published on Tuesday.
The taxation policy will further entrench China's once-scattered e-cigarette industry into the country's state-backed tobacco monopoly, a major generator of tax revenue for the country.
According to the Ministry of Finance, a tax rate of 36% will be placed on the production or import of e-cigarettes, while an 11% tax will be placed on the wholesale distribution of e-cigarettes.
(This story has been refiled to correct typo in media identifier)
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Written By: Reuters
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