The floor price for the cheapest 20-stick pack of cigarettes will be P82.49 according to a tax calculation performed by the Philippine Tobacco Institute (PTI), an industry association. READ:
THEloor price for the cheapest 20-stick pack of cigarettes will be P82.49 according to a tax calculation performed by the Philippine Tobacco Institute , an industry association.
In Memorandum Circular No. 79-2022, the BIR provided a breakdown of the taxes on the cheapest pretax cigarettes on a per-pack basis. Apart from the P18.65 net cost of the cheapest cigarettes, excise tax adds P55 and a value-added tax P8.84, the PTI said. “It is estimated that P26 billion is lost in illicit tobacco trade annually. According to a Euromonitor report, six out of 10 cigarettes sold in Mindanao are illegal,” it said.
Graphic health warnings should contain “text in Tagalog in front and English at the back; and the Tarsier or Vinta design tax stamps required as proof of tax payment,” the PTI noted.
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