Philippines Senate Passes Bill to Increase Excise Tax Rates on Cigarettes

The Philippine Senate June 4 passed a bill to increase excise tax rates on packs of cigarettes. The bill includes measures to increase the tax rates to: 1) 45 Philippine pesos (US$0.87), effective Jan. 1, 2020; 2) 50 pesos (US$0.96), effective Jan. 1, 2021; 3) 55 pesos (US$1.06), effective Jan. 1, 2022; and 4) 60 pesos (US$1.15), effective Jan. 1, 2023. The rates will increase annually by 5 percent beginning Jan. 1, 2024. The law takes effect Jan. 1, 2020. [Philippines, Senate, 06/04/19]

Reference:
View Senate Bill No. 2233. View Announcement.