Filipino farmers are urging the country's government to increase the excise tariffs levied on cigarette and tobacco products.
Farmers are supporting the Department of Finance's excise tax hike as it will lead to significant increases in funding for their tobacco provinces, ensuring continued development amid a decline in the country's industry.
Details of the tax rise are unclear at present, although it is thought that the legislation will strengthen the rules of Republic Act 7171, which allows 15% of the excise tax collected on Virginia-type cigarettes to be ploughed back into developing the province of their origin.
If the tax rise is approved, then the government is estimating that around PHP60bn (USD1.25bn) additional revenue could be generated.
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