Summary
RMC No. 24-2020, issued March 6, 2020, provides transitory procedures for taxpayers affected by the administrative requirements under Republic Act (RA) No. 11346, as further amended by RA No. 11467, which imposes Excise Tax on Heated Tobacco Products and Vapor Products.
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Key points
- Registration and permits. Taxpayers amend their BIR registration to include the tax type EXCISE TAX. They secure a Permit to Engage in business as Manufacturer, Importer or Dealer/Trader from the Excise LT Regulatory Division (ELTRD) and get an Assessment Number from ELTRD.
- Importation. Importers secure a Permit to Import and an Authority to Release Imported Goods from ELTRD. They pay the Excise Tax using BIR Form No. 2200-T (Excise Tax Return for Tobacco Products) and the corresponding Alphanumeric Tax Codes.
- Internal Revenue Strip Stamps. Strip stamps are requisitioned from the BIR under Revenue Regulations No. 3-2006 and firmly affixed before the products leave the place of production or Customs’ custody.
- Brands and removals. New and existing brands of tobacco products are registered. Manufacturers fill up the prescribed Excise Taxpayer’s Removal Declaration for all removals.
- Records. Taxpayers maintain Official Registry Books and other forms or records the BIR may prescribe.
Who is affected
- Manufacturers, importers and dealers/traders of Heated Tobacco Products and Vapor Products
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.