China to impose a consumption tax for e-cigarettes starting November By Stocksak

© Stocksak. FILE PHOTO – Visitors try out ecigarette products at a booth at the eCig Expo in Shenzhen (Guangdong province), China April 14, 2019. Picture taken April 14, 2019. REUTERS/Stringer/File Photo

SHANGHAI (Stocksak), China’s Ministry of Finance will impose an 18% consumption tax on ecigarettes sold in China starting Nov. 1, according a notice published Tuesday.

China’s e-cigarette industry will be further consolidated under the state-backed tobacco monopoly. This is a major source of tax revenue.

According to the Ministry of Finance, a 36% tax rate will be applied to the production and import of ecigarettes, while a 11% tax will apply for wholesale distribution.

(This story has been rewritten to correct a typo in the media identifier.

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