Sin tax collection hit P161 billion from January to July, says DOF

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The story "Sin tax collection hit P161 billion from January to July, says DOF" was covered 21 hours ago by Business Mirror, a news publisher based in Philippines.

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Sin tax collection hit P161 billion from January to July, says DOF - Business Mirror

Quick Summary:

THE national government has collected P161 billion in sin taxes, or half of the P306- billion target, from January to July 2024, according to the Department of Finance (DOF).

Recto told the BusinessMirror before that sin tax collections will decline in 2024 due to illicit trade and vape smuggling.

Sin tax is an excise tax imposed on so-called sin products such as alcohol, tobacco products, vape products and sweetened beverages.