The Bureau of Internal Revenue (BIR) expects to generate up to P15 billion in revenue from cigarette tax stamps to meet its P1.82 trillion collection goal this year. Criminal charges were also filed against the owners of an illicit depot in Davao, where P50 million worth of fake cigarettes were seized. The BIR also said it would issue LOAs to other tobacco players in the country as a way of expanding its investigation into the use of fake tax stamps. “We will just finish the kick offs of our tax campaign and then cigarette firms should be expecting an invitation from BIR for dialogue on the fake stamps,” he said. So it’s only fair that the BIR also get the share of the needed workforce to collect taxes,” he added.

Source: Manila Times February 13, 2017 16:37 UTC