The Bureau of Internal Revenue (BIR) in the Philippines is intensifying its efforts to monitor the vape industry following a significant victory in a P1.2-billion tax evasion case.
BIR Commissioner Romeo Lumagui has reminded businesses in the vape sector to comply with registration and tax requirements. The BIR aims to closely monitor the industry, which has faced scrutiny due to marketing to minors and tax evasion.
The BIR recently won a criminal case against vape seller Tap Fog and its conspirators for tax liabilities amounting to P1.2 billion. It also emphasizes that the vape industry is regulated, and compliance with registration and tax obligations is necessary.
The BIR has implemented measures to crack down on illicit tobacco trade and has raised penalties for violators selling tobacco products at prices lower than the combined excise taxes and value-added tax.
These efforts aim to address revenue losses and ensure compliance with tax laws and regulations.
Source: PhilNews24 | February 27, 2024
