Posts tagged: rate of taxes

Cigarettes the most taxed business

Tweet The cigarette manufacturing industry is the only sector in the economy covered by a law that forces increases in the excise tax every two years from 2009 to 2013. Figures obtained from the Bureau of Internal Revenue show that the increases did not exactly produce the expected revenues commensurate in amounts to the rate of the taxes. This is so, according to industry leaders, because every time a new higher rate is imposed, there is an init ... Jump to full article >>