2015 sin tax revenue tops target, surges 25%

“Sin” tax collections exceeded the target in 2015, posting double-digit growth and driven mainly by collections from cigarette products the Bureau of Internal Revenue (BIR) reported on Tuesday.

Tax bureau data showed excise tax revenues from tobacco and alchohol products hitting P141.84 billion last year, growing by 25 percent from 2014’s P112.81 billion and also surpassing the government’s P119.08-billion target.