Growers Challenge Revenue Figures

Source from:  Tobacco Reporter 09/29/2010

Tobacco farmers in the Philippines are questioning tobacco excise revenue projections for next year, according to a story in The Philippine Star. The farmers have expressed surprise that the Department of Finance (DoF) has said that "only" P20.2 billion in tobacco excise would be collected next year even if a scheduled January 1 increases in taxes was factored into the figures. The farmers, who belong to the Immayos Farmers Association, the Samara Farmers Associations, the Itawes Foundation, and the Philippine Association of Tobacco-based Co-operatives, allege that the DoF might have presented the figures in such a way as to sway lawmakers into raising tobacco excise again. Records from the Bureau of Internal Revenue show that tobacco excise collections had reached P16.9 billion between January and July this year, up from P12.5 billion during the same period of last year. Enditem