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LTG worried by ‘sin tax’ leakages

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LT Group Inc. sees “illicit” cigarette trade remaining a key challenge for the conglomerate this year as it pleaded for additional safeguards from the government to level the playing field for tobacco manufacturers and to plug alleged excise tax leakages.

Posted: June 10th, 2014 in Headlines | Read More »

Sin tax law ups prices of tobacco, booze anew

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AFP FILE PHOTO

Prices of tobacco and alcohol products went up on January 1 as the second increase of prices took effect in accordance with the Sin Tax Law.

Posted: January 1st, 2014 in Latest Business Stories | Read More »

Philip Morris plan to make cheap cigs draws opposition

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Tobacco giant Philip Morris Fortune Tobacco Corp. has sought permission to manufacture four variants of its Marlboro products as low-priced cigarettes. AP

A health group has lashed out at tobacco giant Philip Morris Fortune Tobacco Corp. (PMFTC) over its plan to manufacture cheaper cigarettes to compete with a local brand, saying this would defeat the purpose of the “sin tax” law.

Posted: December 17th, 2013 in Latest Business Stories | Read More »

Rocketing revenue proof sin tax working, says DOF

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AFP FILE PHOTO

Finance officials reported a big surge in tax collections for cigarette and alcoholic beverages in the first three quarters this year, indicating the success of the sin tax law which took effect at the start of the year.

Posted: November 25th, 2013 in Latest Business Stories | Read More »

Mighty Tobacco Corp. willing to open books

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PHOTO FROM MIGHTYCORP.COM.PH

Mighty Tobacco Corp. on Wednesday welcomed calls for authorities to examine its books amid allegations that it has been dodging taxes and customs duties in order to price its products cheaply and undercut market rivals.

Posted: November 7th, 2013 in Latest Business Stories | Read More »

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