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Exercise tax

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There is a call in Congress for a review of the “sin tax” law, or RA 10351, imposed on cigarettes and liquor, signed into law by our dear leader Benigno Simeon (aka BS) in December 2012, in effect for just about a year now.

Posted: February 6th, 2014 in Columnists,Inquirer Columns | Read More »

BIR’s sin tax collection up 81.5% in 11 months

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The Sin Tax Reform law has been effective in boosting government revenues as the collection of taxes on cigarettes and alcohol in November already exceeded the full-year target, according to the Bureau of Internal Revenue.

Posted: December 20th, 2013 in Headlines | Read More »

Gov’t probes P4.4B in cigarette tax losses

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AFP FILE PHOTO

Blame it on the law of unintended consequences.

Posted: November 2nd, 2013 in Latest Business Stories | Read More »

Cheaper brands keep smokers puffing, data show

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PHOTO FROM MIGHTYCORP.COM.PH

Cigarette consumption in the country fell—but only marginally—in the second quarter from a year ago, with an increase in the production of cheap P1 per stick brands helping demand stay afloat despite a hike in sin taxes.

Posted: September 30th, 2013 in Latest Business Stories | Read More »

British American Tobacco: Holding an empty brag

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Now the cat is out of the bag. In the past few weeks, big shots of one of the world’s largest cigarette company, London-based British American Tobacco, or BAT, which posts yearly net revenue (meaning, minus the duties and excise taxes on its products) of about $27 billion (more than P930 billion), came out in various media reports on its plans in the Philippines, particularly its supposed $200-million investments.

Posted: March 11th, 2013 in Columnists,Inquirer Columns | Read More »

February inflation hits 5-month high

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Due to the double-digit spike in the prices of so-called sin products such as cigarettes, the rate of rise in consumer prices came to a five-month high of 3.4 percent year on year in February, according to the National Statistics Office.  AFP/JAY DIRECTO

The rate of rise in consumer prices came to a five-month high of 3.4 percent year on year in February due to the double-digit spike in the prices of so-called sin products.

Posted: March 6th, 2013 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

All work and no pay

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The euphoria from the “impressive” 6.6 percent economic growth in 2012, obvious in the Aquino (Part II) administration, particularly in our leader Benigno Simeon (aka BS), seems to have frittered away in no time.

Posted: February 11th, 2013 in Columnists,Inquirer Columns | 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 »

Biz Buzz: Trader absconds

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One would think that, after all the financial malfeasance that has happened these last few years, people would have wisened up to scammers by now.

Posted: January 21st, 2013 in Headlines | Read More »

Manila RTC: Courts have no authority to prevent collection of sin taxes

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

The Manila City Regional Trial Court Branch 17 refused to restrain the Department of Finance and the Bureau of Internal Revenue (BIR) from enforcing the rules and regulations of Republic Act 10351, or the Sin Tax Law of 2012.

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

Liquor makers ask court to halt ‘sin tax’ application

Some of the country’s biggest liquor manufacturers have asked a Manila court to stop the Department of Finance and the Bureau of Internal Revenue from enforcing the so-called Sin Tax Law, which they claim constitutes “double taxation” against local alcohol producers.

Posted: January 10th, 2013 in Headlines | Read More »

Reunited

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ATENEO de Manila University and businessman Manuel V. Pangilinan—arguably the school’s second most prominent living alumnus after President Aquino—finally patched things up last month. Critical differences were apparently set aside for the good of the school’s student body (or, more specifically, the basketball team) that benefit from MVP’s financial support.

Posted: December 4th, 2012 in Headlines | Read More »

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