outbrain
Close  

Cigarette tax take up 8% to P147.5B in 2019

By: - Reporter / @bendeveraINQ
/ 05:22 AM February 27, 2020

Cigarette excise collections in­­creased 8 percent to P147.5 billion in 2019 on the back of higher rates slapped under the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

Latest data from the Department of Finance showed that taxes paid by cigarette firms last year rose from P136.5 billion in 2018, the TRAIN law’s first year of implementation.

ADVERTISEMENT

Cigarette excise cornered more than half, or 54.8 percent, of the total sin tax collections worth P269.1 billion in 2019.

Sin products also included alcoholic drinks and sugar-sweetened beverages.

FEATURED STORIES

The higher excise levied on sugary drinks were also mandated under the TRAIN law.

For cigarettes, e-cigarettes and alcohol, another round of excise increases took effect on Jan. 1 under two laws—Republic Act No. 11346 and RA No. 11467.From cigarettes alone, additional excise collections worth P14.9 billion were expected this year with the implementation of RA No. 11346 in full swing, Finance Undersecretary Karl Kendrick Chua said last week.

Meanwhile, the higher levy on alcohol, heated tobacco and vapes under RA No. 11467 will raise an additional P22.2 billion this year.

JOIN THE IN-DEPTH DISCUSSION
business.inquirer.net

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: cigarette tax, sin products, Tax Reform for Acceleration and Inclusion (Train) Act
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.