Higher cigarette tax to benefit 23 provinces
Credit to Author: clopez| Date: Fri, 07 Jun 2019 21:16:51 +0000
Tobacco farmers in 23 provinces would greatly benefit if President Duterte signs into law the proposed measure levying additional excise on cigarettes, Sen. Juan Edgardo Angara on Friday said.
“Under the measure, 15 percent of excise tax, but not exceeding P17 billion, will go to Virginia tobacco-producing provinces, while 5 percent, but not exceeding P4 billion, will be allocated to burley and native tobacco-producing provinces,” Angara said in a statement.
He said this means that 20 percent of the annual total tax collection would be allocated to help farmers in tobacco-growing provinces while the rest will bankroll the Universal Healthcare law.
“The support for tobacco farmers can be in the form of inputs, training, safety nets, infrastructure, livelihood and agri-industrial projects,” he said. —MARLON RAMOS