The Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue and the Bureau of Customs (BOC) to refund Philippine Airlines P2.1 million in excise taxes it had paid in 2008.
Smokers who patronize lower-priced cigarette brands will have to pay more to get their fix starting next week as the Bureau of Internal Revenue has issued new rules on the implementation of revised excise tax rates under the sin tax reform law.
Concerns about the entry of smugglers should not deter efforts to raise excise taxes on the so-called sin products, such as cigarettes and alcoholic beverages, according to lawmakers.
A group of prominent economists has backed the government’s plan to restructure the excise taxes on tobacco products, saying such reforms are “imperative” for health reasons as well as to boost revenue collection efforts.
Asia Brewery, Inc. (ABI), maker of popular brands Beer na Beer and Colt 45, is opposing a proposed measure that will slap a 140-percent tax increase on low-priced beer, stressing that it will adversely impact its low-income consumer base.
MANILA, Philippines—Petron Corp., the country’s largest refiner and retailer, is urging the government to put a cap on the existing excise and value added taxes levied on oil imports, so as to prevent the unwarranted spikes in local pump prices. “I hope we can request the Department of Finance to review the taxes because the [...]
The Department of Energy has backed Pilipinas Shell Petroleum Corp.’s claim that the alkylate it was importing was an intermediate product used in the production of gasoline and, therefore, should not be slapped with excise taxes. Energy Secretary Jose Rene D. Almendras explained that based on the definition found in the Philippine National Standards (PNS) [...]
