BIR orders cigarette tax stamps inventory of manufacturers

Ahead of the impending sin tax rates increase in January, the Bureau of Internal Revenue (BIR) ordered all local cigarette manufacturers to conduct a physical inventory of prepaid excise tax stamps held in their possession. Based on Revenue Memorandum Circular No. 89-2014, BIR Commissioner Kim S. Jacinto-Henares is ordering local cigarette firms to pay the […]

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