German Government May Introduce Higher Tobacco Tax, Bild Newspaper Reports

The German government may raise taxes on cigarettes by 50 cents per pack by 2015, Bild Zeitung reported, citing Christian von Stetten, a member of the Bundestag.

The tax would rise by 10 cents a year, yielding an extra 1.3 billion euros ($1.7 billion) annually, for the next five years, the newspaper said, adding that the money raised would be used to finance planned tax easements elsewhere.

To contact the reporter on this story: Eva von Schaper in Munich at evonschaper@bloomberg.net.

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