Senator Sherwin Gatchalian has urged the Marcos administration to go after unscrupulous traders to generate higher revenue collection. “The government
Senator Sherwin Gatchalian has urged the Marcos administration to go after unscrupulous traders to generate higher revenue collection.
In the case of the tobacco industry, for instance, Euromonitor data provided by Philip Morris showed that cigarettes sold from illicit trade have been steadily increasing from 10.8 percent in 2018 to 16.7 percent in 2022. This figure is projected to further rise this year to 18.5 percent or equivalent to P30 billion.
“When we increase taxes, we are penalizing those who are paying taxes. We have to address illicit trade or it will be very hard to justify new taxes because some people are making P30 billion a year from illicit trade,” Gatchalian said.
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