A decree signed by President Luiz Inácio Lula da Silva and published this Thursday (1st) in the Official Gazette of the Union determines the increase in the rate of the Tax on Industrialized Products (IPI) levied on cigarettes and the minimum retail sale price of the product. According to the publication, the tax levied on the so-called twenty cigarettes (20 cigarettes) in retail will increase from the current R$ 5 to R$ 6.50 as of September 1st. The charge for the pack and the box, called ad valorem and which represents a percentage of the product, remains at 66.7%, but will have a specific rate of R$ 2.25 instead of R$ 1.50 currently charged. The change will take effect from November 1st. [Read more]