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Heated tobacco, vape tax take hits P630.6M
The government’s revenues from sin taxes on new smoking devices increased by more than half last year amid the product’s growing popularity, data from the Department of Finance showed on Wednesday. From January to December 2022, the total collection of excise taxes on heated tobacco and vapor products increased by 66 percent to P630.6 million, compared to P379.48 million in the previous year. Based on data from the DoF, the excise tax on heated tobacco reached P413.28 million in 2022, that is 70 percent higher than the P242.88 million collected in 2021. The excise taxes imposed on vapor products amounted to P217.33 million or a 27 percent increase from the P136.6 million collected the previous year. Tax collection on heated tobacco, vapor products The Bureau of Customs’ tax collection on heated tobacco and vapor product dropped 12 percent last year to P113.48 million from P129.64 million a year earlier. DOF data show that Customs excise tax collection on vapor products declined by 39 percent from P129.64 million to P79.1 million last year. On the other hand, heated tobacco importers paid the Customs bureau P34.37 million in excise taxes last year from zero payment in 2021. BIR collection in excise tax Meanwhile, the Bureau of Internal Revenue collected a total of P517.13 million in excise tax from the two smoking devices, which is twice the amount of P249.83 million collected in 2021. Of overall tax collections by the BIR, the revenue generated from heated tobacco was a 56 percent improvement, reaching P378.9 million compared to P242.88 million in the previous year. In the case of vapor products, these contributed P138.22 million in excise taxes to the BIR, marking a significant increase compared to the mere P6.96 million recorded in 2021. BIR Commissioner Romeo Lumagui Jr. has acknowledged that the bureau’s excise tax collections in the first four months of the year did not meet the target due to the widespread illegal cigarette trade in the country. Entities in the online marketplace To tackle this problem, Lumagui expressed his intention to collaborate with other entities, specifically in the online marketplace, to eliminate the sale of illicit products on their platforms. In the Philippines, online platforms have emerged as new channels for dishonest individuals who persist in engaging in the illicit trade of cigarettes. “We’re coordinating with them and hopefully we come up with an agreement soon as to how to address the proliferation of illicit products in their platforms,” Lumagui said. The BIR also reminded the public that the sale of cigarettes and vape products below the new floor price is illegal. The post Heated tobacco, vape tax take hits P630.6M appeared first on Daily Tribune......»»
World’s oldest machine printed book on show in Paris
The oldest known work printed on a mechanical press -- a Korean book that predates the first European example by several decades -- went on display in Paris for the first time in 50 years on Wednesday. The "Jikji", a collection of Buddhist teachings, was printed in 1377 -- some 78 years before Johannes Gutenberg produced his famous Bible using his printing press in Germany. The Korean treasure is being shown as part of a new exhibition at the National Library of France (BnF), running until July. Since no examples of Korean machinery have survived and the technique did not become widely used at the time, it did not have the revolutionary impact of the Gutenberg press -- and the exhibition mostly focuses on European history. But it marks the first time the "Jikji" has been shown publicly since 1973, according to reports in the Korean press -- reigniting hopes of its return. "With this exhibition as an occasion, if we collaborate and build a good relationship based on trust, I think we could have a valuable opportunity to see Jikji in person in Korea in the future," said Kim Jung-hee, chair of the Overseas Korean Cultural Heritage Foundation. The BnF says Gutenberg was probably not aware of the Korean invention and was combining various forms of reproduction using wood and copper engravings that had been in use in Europe since around 1400, though they themselves were influenced by techniques imported from East Asia. The "Jikji" was brought to France by Victor Collin de Plancy, who became the first French diplomat to Korea in 1887. A collector of ancient texts, he bought it from an unknown source and "was emotionally moved to discover that the work dated back to the Xuanguang era (1371-1378)," says the BnF. It was shown at the Paris Universal Exhibition in 1900 and Collin de Plancy sold it at auction in 1911 for 180 francs, equivalent to more than 60,000 euros today, according to France's national statistics bureau. It was bequeathed to the national library in 1950 and rediscovered a decade later by a Korean historian who was cataloging her country's treasures in Paris. She helped repatriate other items to South Korea, such as royal manuscripts from the Joseon dynasty which had been taken during a French military campaign in 1866. The exhibition at the BnF also includes a copy of the famous 1455 typographic press designed by Gutenberg and loaned by the museum dedicated to him in Mainz, Germany, as well as two Bibles printed on it, and the oldest known Western woodcut, the Bois Protat, dated to around 1400. The post World’s oldest machine printed book on show in Paris appeared first on Daily Tribune......»»
Danielle Nicole Brand and Care Bears Collaborate to Make Bags – WWD – EzAnime.net
These colorful and cheerful teddy bears beloved by TV and movie celebrities are included in a collection of bags made by Danielle Nicole. The official.....»»
LIST: Saint movies to watch this Holy Week
YouTube offers free access to films on the lives of Catholic Saints in time for the Holy Week. .....»»
Sy family invests P5 billion in Megawide affiliate
The Sy family is once again playing a big brother role to a company led by businessman Edgar Saavedra, this time investing in Megawide’s affiliate renewable energy real estate investment trust......»»
Reflecting on Your Business Setbacks
Challenges are an inevitable part of any endeavor, especially a business one. From unforeseen economic shifts to internal operational hurdles, every business owner will inevitably face obstacles that test their resolve. As we live in a fast-paced world, we sometimes forget about looking back, and what better time to do it than the Holy Week? […].....»»
Eala advances in W75 Croissy-Beaubourg tennis tilt
Filipino tennis ace Alex Eala has gone into the next round of the W75 Croissy-Beaubourg tournament in France after sweeping hometown bet Emeline Dartron, 6-3, 6-4, late Tuesday night (Manila time)......»»
Cebuano Larz Dawson first runner-up for Mister Tourism Universe 2024
CEBU CITY, Philippines— Another Cebuano is putting Cebu on the centerstage of pageants. Larz Kent Dawson, 22, from Tisa, Cebu City recently bagged the first runner-up title for this year’s Mister Universe Tourism. Dawson, who was crowned Ginoong Pilipinas 2023, added another title in his bag, this time on the international stage. “Joining Mister Universe.....»»
Yogi Ruiz: Salaries, incentives for City Hall employees must be paid on time
CEBU CITY, Philippines — Job order (JO) employees at the Cebu City Hall have not been paid their salaries from January to March 2024. They have not also received their share of the Charter Day incentive amounting to P5, 000 each. Councilors Noel Wenceslao and Nestro Archival have raised a concern on the delay in.....»»
Most Filipinos reject Charter change, lifting foreign ownership restrictions
An overwhelming majority of Filipinos oppose changing the 1987 Constitution at this time, according to a new Pulse Asia Survey, with results showing Filipinos in all regions and all socio-economic classes did not support the lifting of foreign ownership restrictions in key industries......»»
Philippine scientists harassed by China helicopter
Another case of harassment at sea by the Chinese has been reported – this time near Pag-Asa Island last Saturday – involving a helicopter, which hovered dangerously close to a group of Filipino scientists doing research work on a sand bar called Sandy Cay, causing minor injuries......»»
Red carpet to be rolled out for FIVB world meet
The Philippines will leave no stone unturned for the FIVB Volleyball Men’s World Championships 2025 – in terms of hosting the event for the first time ever and competing anew after 50 long years......»»
JG Summit core profit soars in 2023
Core earnings of conglomerate JG Summit Holdings Inc. soared in 2023 following a significant turnaround in its airline business, with Cebu Pacific returning to full-year profit for the first time since the pandemic......»»
13 killed in vehicles collision in southern Philippines
MANILA, March 25 (Xinhua) -- Thirteen people were killed after a passenger van and a dump truck collided on a highway in Cotabato province in the southern Philippines on Monday, police and local media said. Police said the van, with about 15 passengers aboard, was negotiating a sloping curve when it was hit by the speeding dump truck in the opposite lane. The accident happened after 12 noon local time. In.....»»
3 suspected rebels killed in clash in Philippines Batangas
MANILA, March 26 (Xinhua) -- Three suspected rebels were killed in a clash with government forces in Batangas province, south of Manila, on Tuesday, the Philippine military said. The military said a 30-minute gunfight broke out around 6:30 a.m. local time after the troops ran into a group of New People's Army (NPA) rebels in Rosario town. The troops recovered three rifles, six jungle packs, and some mater.....»»
Xinhua world news summary at 1530 GMT, March 26
MANILA -- Three suspected rebels were killed in a clash with government forces in Batangas province, south of Manila, on Tuesday, the Philippine military said. The military said a 30-minute gunfight broke out around 6:30 a.m. local time after the troops ran into a group of New People's Army (NPA) rebels in Rosario town. (Philippines-Clash) - - - - BEIRUT -- Two people were killed and nine other civ.....»»
The Mystery of Post-Inflation Stability: Exploring Economic Uncertainty
Inflation, a sneaky force eating away at our financial stability, makes us wonder: what happens after its rampage? Do things settle back to normal, or are we stuck dealing with the aftermath? Inflation is simply prices creeping up over time, quietly changing our financial landscape. Think of your favorite café inching up its prices or […].....»»
Philippine scientists harassed by China helicoper
Another case of harassment at sea by the Chinese has been reported – this time near Pag-Asa Island last Saturday – involving a helicopter, which hovered dangerously close to a group of Filipino scientists doing research work on a sand bar called Sandy Cay, causing minor injuries......»»
Baltimore bridge collapses after cargo ship rams it
A major bridge in the US city of Baltimore almost entirely collapsed Tuesday after being struck by a cargo ship, sending multiple vehicles and up to 20 people plunging into the harbor below. Dramatic footage shows a container ship hitting a footing of the Francis Scott Key Bridge, sending the steel-built structure into the Patapsco.....»»
Aktres pinanggigilan ng mga kasamahan sa pagiging late, ‘di nagbago?
LUKANG-LUKA ang co-actors at buong production people ng isang movie outfit sa aktres dahil 6AM ang call time at dumating sa set ng 6PM. Humingi naman daw ng dispensa ang aktres dahil na-overlook niya ang oras bukod pa sa gumimik siya kinagabihan kaya hindi siya nagising at hindi rin siya ginising ng kanyang kasama sa.....»»