House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The House of Representatives has overwhelmingly passed on third and final reading a measure that would temper the rate of annual excise tax increases on tobacco products....
House Speaker Martin Romualdez (Ellson Quismorio/ MANILA BULLETIN) House Speaker Martin Romualdez has led the filing of a measure that seeks to scrap excise tax on fuel products. Read in plenary on Monday night, Feb 3 was House Bill (HB)...
(Unsplash) On the strength of 177 affirmative votes, the House of Representatives approved on third and final reading the measure strengthening the administration of excise tax on tobacco products. House Bill (HB) No.11286, which covers...
The House of Representatives has approved on second reading a bill designed to rationalize excise tax rates on tobacco and vapor products, aiming to halt the decline in excise tax collections due to illicit trade. Nueva Ecija Rep. Mikaela Suansing Nueva Ecija Rep. Mikaela Suansing...
Senator Sherwin Gatchalian has expressed concern over the widespread smuggling and illicit trade of excisable products, including cigarettes and vapes, warning this could lead to peace and order issues. Aside from this, Gatchalian also said such activities erode the country’s revenue...
Taxes to protect and fund universal health care (UHC)—such as those slapped on so-called "sin" products like cigarettes, alcoholic drinks, and sweets—still have room for further increases, according to a global task force. "Health taxes continue to be underutilized despite the...
Senator Sherwin Gatchalian has urged the Senate to look into the alleged smuggling of two Bugatti Chiron sports cars into the Philippines “with an end view of abating the outright smuggling of luxury cars” in the country through legislation. Subject of Gatchalian’s resolution is...
Albay 2nd district Rep. Joey Salceda (left), Marikina City 2nd district Rep. Stella Quimbo (Rep. Salceda's office) The top economists in the House of Representatives have aired their concerns over the proposal to suspend excise tax on fuel as a remedy to the...
Senate Minority Leader Aquilino “Koko” Pimentel III said that he is open to proposals of suspending the excise tax on imported oil and bio-ethanol as an immediate measure to bring down the fuel prices in the country. “The suspension of the excise tax could offer a temporary respite and serve...
The province of Ilocos Sur will get the biggest share from the proceeds of the RA 7171 Virginia tobacco excise tax fund in Fiscal Year 2020 while the province of Isabela will receive the highest share from the Burley and Native tobacco excise tax fund pursuant to RA 8240. In the Local Budget...
Illicit cigarette trade in the country worsened amid the pandemic, allowing smugglers to amass huge profits and depriving the government of much needed tax revenues. At the recent Anti-Illicit Trade Conference “Plugging Revenue Leakage by Curbing Illicit Tobacco Trade,” authorities reported...
