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Philippines: BIR sin tax collection up 12% to P17.7 B in September

  • Oct 31, 2017

MANILA, Philippines — The Bureau of Internal Revenue (BIR) collected P17.7 billion in excise taxes in September, up 12 percent from P15.67 billion in the same month in 2016, the Department of Finance (DOF) reported yesterday.

Finance Undersecretary Antonette Tionko said the bulk of the total collection in September was contributed by the tobacco industry with P11.1 billion.

Of that amount, Tionko said P4.6 billion came from Japan Tobacco International (JTI) Philippines Inc. after its acquisition of Bulacan-based manufacturer Mighty Corp.

“This is an important thing because in the same period last year, the collection from Mighty was P1.2 billion. The difference is P3.3 billion, so that was a 281 percent increase,” she said.

Finance Secretary Carlos Dominguez expressed confidence the government would sustain the growth in six tax collections with JTI Philippines now a stronger competitor in the cigarette industry.

Source: http://www.philstar.com/business/2017/10/31/1753978/bir-sin-tax-collection-12-p17.7-b-september