DOF starts review of tax ruling on Pall Mall brand
The Department of Finance (DOF) started yesterday a review of its present tax ruling on the
Finance Secretary Margarito Teves met with officials of the Bureau of Internal Revenue (BIR) to discuss the issue amid appeals by cigarette firms to raise the tax rate on
“We will look into the different points. We will see if we had erred and see what we can do or whether it should be up to Congress. We will take everything into account,” Teves told reporters yesterday.
At present, BAT is paying an excise tax rate of P6.74 per pack for its
The BIR had slapped the higher tax rate on
The DOF, however, last July 24, reclassified
Earlier, Sen. Juan Ponce Enrile, chairman of the Senate finance committee and Sen. Francis Escudero, chairman of the Senate ways and means committee, warned that they would investigate the DOF for its allegedly erroneous tax ruling on
Four other cigarette companies appealed to the DOF to review
Teves said it may take a while before the DOF can decide on what actions it would take regarding the issue.
He said there was a need to study if the DOF can still change the prevailing tax rate.
“The timetable (to come out with a decision) will depend on the discussions,” Teves noted.
In the meantime, Teves said, BAT continues to pay the P6.74 per pack excise tax for its
Fortune Tobacco, American-owned Philip Morris, Associated Anglo-American Tobacco Corp.(Anglo-American) and Japan Tobacco International (JTI)
BAT earlier said the July 24 ruling is already final and that only an Act of Congress can change the present classification of
La Suerte Cigar and Cigarette Co. is the local producer of
- Latest
- Trending
