Salceda said the industry must cooperate with government before public opinion shifts towards tighter regulation of the products.
REP. Joey Sarte Salceda is calling on the vape sector to become more diligent in paying their taxes “before public opinion blows up in their face” as the House tax panel’s hearing revealed the government is collecting far fewer revenues than expected.
“They asked for looser regulations, through the Vape Regulation Law, which supplanted many of the stricter conditions under the Tax Code.,” Salceda said. [Then they won’t pay taxes.] “Pay up, before this blows up in your face.” “Market data suggests that the country’s vape market is generating as much as P12.3 billion in sales. In 2019, when the Vape Tax Law was being discussed, government revenue agencies projected as much as P1.4 billion in tax revenues annually from the measure,” the chairman of the House Ways and Means Chairman said. “In short, we are off target in taxes, while sales projections seem to be on track.”
The lawmaker also cited recommendations from the World Health Organization, which suggest that stronger measures for taxing and regulating vape products should be in place.
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