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Group urges gov’t to scrap tax on jet fuel

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The Supreme Court effectively slapped new taxes on aviation fuel suppliers after it denied in a recent decision the excise tax refund claims of Pilipinas Shell and Petron, the Joint Foreign Chambers said.

The Joint Foreign Chambers is urging the government to scrap the excise taxes on jet fuel as it describes Manila to be “the most expensive place in Asia to fuel an aircraft.”

Posted: February 14th, 2014 in Latest Business Stories | Read More »

For automakers, lower taxes, more perks eyed

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Trade Secretary Gregory L. Domingo: Additional incentives

The Department of Trade and Industry is looking at possible revisions in the excise tax structure and additional incentives for higher local content in the automotive manufacturing sector, as it moves to make the Philippines the automotive hub of the region.

Posted: November 8th, 2013 in Latest Business Stories | Read More »

4-month ‘sin’ tax take surges

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The Bureau of Internal Revenue’s collection of excise tax from alcohol and cigarette manufacturers grew by over P4 billion in the first four months of the year, due mainly to the implementation of the controversial Sin Tax Reform law.

Posted: June 30th, 2013 in Headlines | Read More »

‘Sin’ taxes seen to boost BIR collection to P1.25T

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The Bureau of Internal Revenue aims to collect P102.4 billion in excise taxes this year and boost total revenue collection for the year to P1.25 trillion.

Posted: January 31st, 2013 in Editor's Pick,Headlines | Read More »

Japan Tobacco bucks excise tax reforms

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Like Philip Morris Fortune Tobacco Corp., Japan Tobacco International (Philippines) Inc. is against the proposed reforms in the excise tax system in the Philippines.

Posted: May 28th, 2012 in Headlines | Read More »

Sin tax revenues down sharply in 2011

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Excise tax collection on so-called “sin products” fell by a fifth in 2011 to an estimated P25.4 billion from P31.5 billion the previous year, according to the Department of Finance (DoF).

Posted: May 8th, 2012 in Headlines | Read More »

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