TAX COLLECTIONS from vapor products totaled P1.35 billion in the 11 months to November, according to the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).
OSAPIEA Undersecretary Jose Edwiniel C. Guilas speaking on behalf of Secretary Frederick D. Go, said tax collections from vapes surged last year.
“(That is) more than triple the total collections of P361.6 million for the entire year of 2023,” Mr. Guilas said.
“Similarly, heated tobacco products (HTPs) have generated P590.1 million for the same period, also exceeding the collections of P459 million for 2023,” he added.
He noted the shift towards HTPs and vapes over the years has not been accompanied by appropriate regulation and tax measures.
“The government is taking various steps to address these concerns. This matter has been brought to the Cabinet’s attention to ensure prompt and responsive action,” he said.
“Efforts are focused on properly registering industry players, prioritizing compliance with health standards, and ensuring accurate tax payments in accordance with laws and regulations, ultimately boosting collection,” he added. — Justine Irish D. Tabile