RR No. 17-99: Prescribes the regulations to implement the 12% increase in the Excise Tax imposed on distilled spirits, wines, fermented liquors and cigars and cigarettes packed by machine effective January 1, 2000

Summary

RR No. 17-99, issued December 27, 1999, implements Sections 141, 142, 143 and 145 (A) and (C) (1), (2), (3) and (4) of the National Internal Revenue Code of 1997 on a twelve percent (12%) increase in Excise Tax effective January 1, 2000.

Key points

1. Products covered. The increase applies to distilled spirits, wines, fermented liquors, and cigars and cigarettes packed by machine.
2. New rates. The new rates of Specific Tax to be levied, assessed and collected are specified in the Regulations.
3. Floor on rates. The new specific tax rate for any existing brand must not be lower than the Excise Tax actually paid before January 1, 2000.

Who is affected

• Manufacturers of distilled spirits, wines, fermented liquors, and cigars and cigarettes packed by machine

Deadlines and effectivity

• Effective January 1, 2000

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.