BIR adjusts floor prices of cigarettes, vape products
The Bureau of Internal Revenue (BIR) in the Philippines has updated the minimum prices for cigarettes, heated tobacco products, and electronic cigarettes.
Jethro Sabariaga, assistant coordinator at BIR, stated that the increase in the minimum price of cigarettes is due to some sellers selling cigarettes at a price below the production cost and consumption tax. However, such behavior is against national regulations and undermines market competition.
Sabariaja stated that the minimum retail price set by BIR encompasses consumption tax, value-added tax, and production costs. The higher prices also serve as a warning to the public, reminding them of the potential harm of illegal tobacco products to their health.
The minimum price for a pack of cigarettes has been increased from 82.49 Philippine pesos (approximately 10.3 yuan) to 114.60 Philippine pesos (approximately 14.3 yuan). The minimum price for heated tobacco products (sticks) has been reduced from 140 Philippine pesos (approximately 17.4 yuan) to 120.40 Philippine pesos (approximately 15 yuan); the minimum price for a 2ml pod is 200 Philippine pesos (approximately 25 yuan); the minimum price for a 10ml bottle of nicotine e-liquid is 179.20 Philippine pesos (approximately 22.4 yuan); and the price for a 30ml bottle of nicotine e-liquid has been increased from 352.80 Philippine pesos (approximately 43.8 yuan) to 403.20 Philippine pesos (approximately 50 yuan). The BIR emphasizes that it is illegal to sell tobacco products below the prescribed consumption tax and value-added tax, and violators may face fines of up to 500,000 Philippine pesos and imprisonment for up to 6 years.
Meanwhile, the Department of Trade and Industry (DTI) seized nearly 3 million Philippine pesos worth of uncertified electronic cigarette products in the Metro Manila region from February to April. The DTI stated that it has been intensifying its monitoring of non-compliant shops selling electronic cigarette products.
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The Bureau of Internal Revenue has made changes to the minimum prices that must be charged for both cigarettes and vape products.
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