With the Japan Tobacco International (JTI) Philippines paying more than double the amount it paid in January this year, government collection from tobacco excise taxes rose to P17.57 billion in mid-February.
The amount is 4.28 percent higher than the February target set by the Bureau of Internal Revenue (BIR).
Last month, JTI paid taxes amounting to P10.94 billion.
BIR Deputy Commissioner Arnel Guballa said preliminary data showed that from Feb. 1 to 18, the bureau already collected P721.24 million more than its tobacco excise tax target of P16.85 billion for the month.
The February 2021 collection in tobacco excise taxes is also P9.20 billion or 109.85-percent more than the amount of P8.37 billion collected in the same period in 2020.
“Noticeably, we have a big increase in the collection of tobacco excises because JTI opened its plant in Lima, Batangas. So it’s in full operation, that’s why they increased their production. That’s also why we have quite a collection in tobacco for this month,” Guballa said.
Cumulatively, the tobacco excise tax collection for Jan. 1 to Feb. 18 amounted to P29.1 billion, he said. It is P12.33 billion or 73.53 percent more than the P16.77 billion collected for the January-February period of the previous year.
Photo by PNA