The government of Spain's Canary Islands will tax e-cigarette products and e-cigarettes at a rate of 0.10 euros per milliliter starting in 2024 and will include it in the autonomous region's 2024 draft budget.
Recently, according to the content of the "Amendment to the Tobacco Products Tax Law" revealed by European News Agency, the Canary Islands government will tax e-cigarette products and e-cigarettes at a rate of 0.10 euros per milliliter starting in 2024, and will include them in the autonomous region. in the 2024 budget draft.
The Canary Islands will become the first Spanish autonomous community to impose a specific tax on such products, having adopted fiscal recommendations issued by the European Union and central government.
Authorities will tax e-cigarette fluids and any device that contains or does not contain nicotine, especially to discourage access by teenagers and prevent them from developing a habit of using tobacco.
The impact of the initiative on the Canary Islands' finances is currently unclear, although the national public revenue gained from e-cigarette taxes is based on projections by the Ministry of Health in its report "E-cigarette tax review: European regulation and possible scenarios in Spain" The possible increase is between 7 and 48 million euros.
Additionally, the bill updates taxes on most products, increasing the tax rate on cigars and cigarillos from 2% to 4% and on other tobacco products from 5% to 10%.
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