The Bureau of Internal Revenue (BIR) in the Philippines recently updated the minimum pricing for cigarettes, heated tobacco products, and electronic cigarette products. Jethro Sabariaga, the Assistant Commissioner of BIR, indicated that this increase in the floor price for cigarettes was due to some sellers selling cigarettes below the cost of production and consumption tax, a practice that violates national regulations and disrupts market competition. Below are the items of revision:
- The minimum price per pack of cigarettes has increased from 82.49 pesos (approx. 1.64 USD) to 114.60 pesos (approx. 2.27 USD).
- The minimum price for heated tobacco products (tobacco sticks) has been reduced from 140 pesos (approx. 2.78 USD) to 120.40 pesos (approx. 2.39 USD).
- The minimum price for a 2ml vape cartridge is set at 200 pesos (approx. 3.97 USD).
- The minimum price for 10ml bottled nicotine vape juice is 179.20 pesos (approx. 3.55 USD).
- The price for 30ml bottled nicotine vape juice has been increased from 352.80 pesos (approx. 7 USD) to 403.20 pesos (approx. 8 USD).
The BIR emphasizes that it is illegal to sell tobacco products below the statutory consumption tax and value-added tax, with offenders facing a maximum fine of 500,000 pesos (approx. 9,934 USD) and up to six years in jail. In addition, between February and April, the Department of Trade and Industry (DTI) seized uncertified electronic cigarette products worth nearly 3 million pesos (approx. 59,601 USD) in the Greater Manila area. The DTI stated that it continues to strengthen supervision over non-compliant stores selling electronic cigarette products.
*The content of this article is written after the extraction, compilation and integration of multiple information for exchange and learning purposes. The copyright of the summary information still belongs to the original article and its author. If any infringement is found, please contact us to delete it.
