TABLE 1. TaXSiM results for Grenada, 2015 forecasts.
| Variables | Consumption reduction scenarios | ||||||
|---|---|---|---|---|---|---|---|
| Baseline | 5% | Change (% change) | 10% | Change (% change) | 15% | Change (% change) | |
| Average price per pack of 20 (EC$) | 8.5 | 9.2 | 0.7 (8.6%) | 10.0 | 1.5 (18.0%) | 10.8 | 2.3 (27.0%) |
| Average price per pack of 20 (US$) | 3.1 | 3.4 | 0.3 | 3.7 | 0.6 | 4.0 | 0.9 |
| Excise tax per pack 20s (EC$) | 3.2 | 3.8 | 0.6 (17.0%) | 4.4 | 1.2 (35.0%) | 4.9 | 1.7 (51.0%) |
| Excise revenues (thousands, EC$) | 3 552 | 3 947 | 395 (11.1%) | 4 296 | 744 (20.9%) | 4 593 | 1 041 (29.3%) |
| Excise revenues (thousands, US$) | 1 316 | 1 462 | 146 | 1 591 | 276 | 1 701 | 386 |
| Total tax revenues (thousands, EC$) | 4 826 | 5 248 | 422 (8.7%) | 5 616 | 790 (16.4%) | 5 925 | 1 099 (22.8%) |
| Total tax revenues (thousands, US$) | 1 787 | 1 944 | 156 | 2 080 | 293 | 2 194 | 407 |
| Average excise tax burden (excise tax as % of price) | 38.3% | 41.2% | 0.03 | 43.8% | 0.1 | 46.0% | 0.1 |
| Average tax burden (total tax - import, excise, and VAT - as % of price) | 52.0% | 54.8% | 2.8% | 57.2% | 5.2% | 59.3% | 7.3% |
Source: Produced by the authors from the study data.