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BIR: Vape traders must affix tax stamp by June 1

Business

BIR: Vape traders must affix tax stamp by June 1

By Jun Ramirez

The Bureau of Internal Revenue (BIR) has reminded vape sellers that they have until Saturday, June 1, to affix tax stamps on their products before distributing them to buyers.

BIR Commissioner Romeo D. Lumague, Jr. warned that any unstamped vape products will be seized, and owners will face charges of tax evasion.

The BIR chief issued Revenue Regulations No. 59-2024, implementing a tax stamp system for vapes similar to that used for other cigarette products. This system aims to monitor sales and ensure the proper collection of excise and income taxes.

READ: BIR mandates tax stamps on vape products starting June

The government has been losing significant tax revenue due to the widespread distribution of illicit vapes.

Since 2022, the BIR has been conducting nationwide raids against the lucrative trade of contraband, seizing products from warehouses in Metro Manila and other areas, and filing criminal cases worth billions of pesos against the traders involved.

Related Tags

Bureau of Internal Revenue (BIR) BIR Commissioner Romeo Lumagui Jr. vape products

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