RR No. 22-2003: Implements the revised tax classification of new brands of cigarettes and variants thereof based on the current net retail prices

Summary

RR No. 22-2003 implements the revised tax classification of new brands of cigarettes and their variants, based on a nationwide survey of current net retail prices.

Key points

1. New Excise Tax rates. The new Excise Tax rates apply to new cigarette brands and variants introduced in the market after January 1, 1997, as listed in Annex A of the Regulations.
2. When rates apply. The rates are imposed immediately after fifteen (15) days following publication of the Regulations in a newspaper of general circulation.

Who is affected

• Makers and sellers of new cigarette brands and variants introduced after January 1, 1997

Deadlines and effectivity

• Rates take effect immediately after fifteen (15) days following newspaper publication

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