BIR PLANS TO AFFIX TAX STAMPS ON CIGARETTES

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BUREAU of Internal Revenue (BIR) Commissioner Kim Henares said that the government might start affixing tax stamps on cigarettes April next year to ensure tax compliance among tobacco companies. Henares disclosed this during a recent hearing conducted by the House Committee on Ways and Means on the revenue targets and performance outputs of the BIR and the Bureau of Customs. She said the bidding for the tax stamp was already completed and the BIR is now evaluating the bidder to determine whether it is qualified.

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