Summary
RR No. 16-2024 prescribes the updated floor prices of cigarette, heated tobacco, and vapor products under Sections 144 (B) and (C) and 145 (C) of the NIRC of 1997, as amended.
Key points
- Cigarettes and heated tobacco. The floor price is 78.58 for a pack of 20 sticks of cigarettes and 785.80 for a ream. For a pack of 20 sticks of heated tobacco products it is 60.11.
- Vapor products, nicotine salt. The floor price is 180.67 for a 2 ml pod and 679.12 for a 10 ml bottle.
- Vapor products, freebase nicotine. The floor price is 181.72 for a 10 ml bottle and 263.73 for a 30 ml bottle.
- Use of floor prices. The floor prices serve as a reference for taxation only when there are no other documents or proof of an actual price higher than the floor price.
- Selling below combined taxes. Selling these products below the combined Excise and Value-Added Taxes is prohibited. The fine is at least ten (10) times the Excise plus VAT due, but not less than ₱200,000.00 nor more than ₱500,000.00, with imprisonment of four (4) to six (6) years under Sections 145 (C) and 263-A of the NIRC.
Who is affected
- Sellers of tobacco, heated tobacco, and vapor products
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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