According to Manila Bulletin's report on May 7, the Bureau of Internal Revenue (BIR) in the Philippines announced that starting from June 1, 2024, they will confiscate e-cigarette products that do not have the required internal revenue stamp. Individuals and businesses found with these products will also face legal consequences.
BIR Director Romeo D. Lumagui Jr. emphasized in a recent statement that e-cigarette manufacturers and importers must ensure their products comply with the requirements for internal revenue stamps by June 1 of this year.
Director Lumagui reminds relevant enterprises that they can start ordering the new generation of tax receipts from May 8th.
In addition, Luguay warned that starting in June, the National Taxation Bureau will strictly supervise the market and confiscate e-cigarette products that do not have tax stamps as required. He pointed out that such behavior will not only be subject to administrative penalties, such as fines that may increase tenfold, but also will face criminal responsibility for tax evasion.
The series of measures taken by the National Taxation Bureau is a direct response to the ongoing issue of illegal e-cigarette trading. Since 2022, the BIR has conducted multiple raids on illegal e-cigarette trading and successfully prosecuted several cases criminally.
Lumague finally stated, "In the 'New Philippines', there is no room for tolerance for those who sell e-cigarettes without paying the correct taxes. The BIR will continue to intensify enforcement efforts to ensure that all businesses comply with tax laws."
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
