Philippines' DoF maintains "sin" taxes, addressing illicit cigarette imports and revenue losses.

The Philippines' Department of Finance (DoF) will not raise taxes on "sin" products like alcohol and tobacco, instead focusing on addressing tax losses due to illicit cigarette imports. They aim to improve administrative efficiency and combat smuggling, which has led to millions in revenue losses for the government. Sin tax collection in 2022 reached PHP 65.3 billion, 23% higher than the previous year.

May 19, 2024
3 Articles