DOF: New, improved cigarette tax stamp to be rolled out in January

By Inquirer.net |October 11,2017 - 10:29 PM

THE government has pushed back the rollout of new cigarette tax stamps with better security features as well as a new design to January next year.

“We are improving it but we will be moving the deadline a bit, maybe a few more months to January. There are still some things we tweaked on security features and things like that,” Finance Undersecretary Antoinette C. Tionko told reporters recently.

The Bureau of Internal Revenue’s previous target was to introduce the new cigarette tax stamp this month in order to combat the proliferation of fake stamps. BIR Assistant Commissioner Teresita M. Angeles said they were “still going through the testing of the new stamps” and also “allowing the manufacturers to test the papers of the stamps.”

Angeles said the new tax stamp will feature the Philippine tarsier, one of the smallest known primates endemic to the country.

The existing design bears the “butanding” or whale shark.

Since the new stamp will have enhanced security features, it will cost 15 centavos a piece or two centavos more than the current price, which cigarette manufacturers shoulder.

Cigarette tax stamps ensure that the correct excise taxes are paid.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.