{"id":127613,"date":"2017-10-31T00:58:09","date_gmt":"2017-10-31T04:58:09","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=127613"},"modified":"2017-10-31T00:58:09","modified_gmt":"2017-10-31T04:58:09","slug":"sin-tax-take-reaches-p17-7b-in-september","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/10\/31\/sin-tax-take-reaches-p17-7b-in-september\/","title":{"rendered":"Sin tax take reaches P17.7B in September"},"content":{"rendered":"
\"The<\/a>
The Bureau of Internal Revenue (BIR) posted PHP17.7 billion sin tax collection in September 2017, up 12 percent from PHP16.67 billion a year ago. (Photo<\/a> by Las Antipodas\/Flickr<\/a>, CC BY 2.0<\/a>)<\/figcaption><\/figure>\n

MANILA\u00a0— The Bureau of Internal Revenue (BIR) posted PHP17.7 billion sin tax collection in September 2017, up 12 percent from PHP16.67 billion a year ago.<\/p>\n

Department of Finance Undersecretary Antonette Tionko told reporters the bulk of the revenues, amounting to PHP11.1 billion, was contributed by tobacco products while the balance of PHP6.6 billion came from alcohol products.<\/p>\n

Tionko, who is also the head of the Revenue Operations Group (ROG), said collections from tobacco products rose by 14 percent year-on-year.<\/p>\n

Of the total tobacco product taxes, PHP4.6 billion was collected from JTI-Mighty, up 281 pecent from year-ago\u2019s PHP1.2 billion, she said.<\/p>\n

Cigarette maker Mighty Corp. is facing several tax evasion cases but has promised to pay its PHP25 billion tax liabilities.<\/p>\n

Last July, it paid an initial PHP3.5 billion while the balance will be paid by JT International Philippines (JTI), which has bought the local cigarette manufacturing company\u2019s business for PHP45 billion.<\/p>\n

Tionko is optimistic of the sustained growth of cigarette tax collections \u201cbecause you have an international company that is eager to compete in this market.\u201d<\/p>\n

Finance Secretary Carlos Dominguez III earlier said the PHP25 billion tax settlement by Mighty Corp. and JTI is seen to rise to PHP30 billion once value added tax (VAT) is computed.<\/p>\n

\u201cThis is the gift that keeps on giving,\u201d he said.<\/p>\n

The government plans to use proceeds of Mighty Corpo.\u2019s tax liability payments to finance the rebuilding of Marawi City, which was devastated by five months of clashes between government troopers and ISIS-related Maute Group.<\/p>\n

The DOF targets to collect PHP173.19 billion from sin taxes this year.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— The Bureau of Internal Revenue (BIR) posted PHP17.7 billion sin tax collection in September 2017, up 12 percent from …<\/p>\n","protected":false},"author":33,"featured_media":127616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[3419,30541,25707,3817],"class_list":["post-127613","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bureau-of-internal-revenue","tag-p17-7b","tag-september","tag-sin-tax","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=127613"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/127616"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=127613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=127613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=127613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}