Implementation of stamp tax on cigarettes to be delayed anew
MANILA, Philippines - The implementation of the government’s stamp tax cigarette project, which aims to curb illicit cigarette sales, has been delayed by another month despite major tobacco firms’ readiness to comply with it.
Internal Revenue Commissioner Kim Henares said the enforcement of the Internal Revenue Stamps Integrated System (IRSIS) has been pushed back to Oct. 1 from Sept.1 upon the request of APO Production Unit Inc., which was designated by the government to distribute the new security stamp to local cigarette manufacturers.
Henares said APO, a state firm operating under the Office of the President, requested for the deferment of the project due to port congestion.
Tobacco giant Philip Morris Fortune Tobacco Corp. (PMFTC) and Japan Tobacco International (JTI) expressed disappointment at the government’s decision to delay the implementation of the project, after having been launched by the BIR last month.
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