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RR No. 12-2008: Prescribes the manner of computing the basis of the 15% allocable share of the beneficiary provinces in the Excise Tax collection from locally manufactured Viginia-type cigarettes

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Summary

RR No. 12-2008 prescribes how to compute the basis of the 15% allocable share of beneficiary provinces in the Excise Tax collected from locally manufactured Virginia-type cigarettes, under Section 3 of RA No. 7171.

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Key points

  1. Basis of the 15% share. The 15% share is computed on the actual Excise Taxes collected annually from locally manufactured Virginia-type cigarettes.

Who is affected

  • Beneficiary provinces under RA No. 7171

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.