Jump to full article: Philippine Daily Inquirer (ph), 2009-11-17
Author: Gil C. Cabacungan Jr. Philippine Daily Inquirer
Intro: A plan that would effectively hike cigarette prices yet possibly fail to boost government revenues was questioned by members of the House of Representatives on Tuesday.
The Bureau of Internal Revenue plans to add revenue stamps to cigarette packs to improve inventory monitoring and tracking of the tobacco products from factories to retail outlets in order to minimize tax leakages and boost revenues by P13 billion.
The government has endorsed the BIR's plan which would use revenue stamps provided by Swiss-based SICPA Product Security Inc.
During a hearing of the House ways and means committee, former BIR commissioner and incumbent Camarines Sur Rep. Liwayway Vinzons-Chato said that based on research conducted by her staff, the revenue stamps being pushed by SICPA showed "no clear indication as to an increase in tax collection and [minimizing] so-called leakages.''
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