AMERICAN global cigarette and tobacco company Philip Morris International Inc. (PMI) has lauded the Philippine government’s campaign against the illicit trade of cigarettes in the country and expressed hope for a sustained enforcement of excise tax compliance in the industry. In its 2017 first-quarter results conference call, the company said it was encouraged by the government’s renewed focus on addressing illicit trade, including excise tax stamp compliance. “We are hopeful for sustained enforcement to address the issue long term, which we believe should ensure that prices at the bottom of the market reflect full excise tax payment,” it said. Last month, the BIR filed a P9.5-billion criminal complaint against a local cigarette maker found to be storing some 60,000 master cases of cigarettes with fake tax stamps. It said Marlboro’s cigarette share increased by 5.0 points to 32.5 percent in the Philippines, driven by in-switching from lower-priced brands.

Source: Manila Times April 23, 2017 16:18 UTC