Philippines ‘sin tax’ introduced (revised tax rates on cigarettes and alcohols)
On December 26, 2012, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 17-2012 Prescribing the Implementing Guidelines on the Revised Tax Rates on Alcohol and Tobacco Products Pursuant to the Provisions of Republic Act No. 10351 and to Clarify Certain Provisions of…