CAGAYAN DE ORO CITY, Misamis Oriental: For growing Brightleaf tobacco, the town of Claveria gets P355,666,474, which is 40 percent of the P700-million share from tobacco excise taxes for 2015 while the province of Misamis Oriental takes P210,166,552 or 30 percent as its share, the Department of Budget and Management (DBM) disclosed recently. Mercedes Ayco, tobacco production and regulation officer for Mindanao of the National Tobacco Administration (NTA). The tobacco excise funds come from proceeds of fifteen percent of the excise taxes on locally manufactured Virginia-type of cigarettes. The funds allotted shall be divided among the beneficiary provinces pro rata according to the volume of Virginia tobacco production. Misamis Oriental qualified as beneficiary as its annual production of Virginia leaf tobacco reached more than one million kilos in 2015.

Source: Manila Times July 09, 2017 12:11 UTC