Senate approves excise tax increase on tobacco products 0 SHARES Share it! Share TweetBy Hannah TorregozaThe Senate on Monday approved on the third and final reading the measure seeking to raise the excise tax on tobacco products. 2233, which proposes a staggering increase of excise tax per cigarette pack starting from January 2020 to 2023, garnered 20 votes, zero negative votes, zero abstention. Once signed into law, the scheduled increase would be as follows: P45 per pack increase effective Jan. 1, 2020 until Dec. 31, 2021, P50 in Jan. 2021, P55 per pack in Jan. 2022 and P60 per pack effective Jan. 1, 2023. After 2023, there would be a 5 percent annual increase effective January 1, 2024.

Source: Manila Bulletin June 03, 2019 15:33 UTC