The Bureau of Internal Revenue (BIR) on Friday came out with the guidelines on the collection of the excise taxes slapped on sugary drinks, in a bid to further shore up the revenue take from the new tax. Revenue Regulations No. 20-2018 issued by Finance Secretary Carlos G. Dominguez III and Internal Revenue Commissioner Caesar R. Dulay was retroactive as the implementation of the new taxes on sugar-sweetened beverages started last January 1 as part of the Tax Reform for Acceleration and Inclusion (TRAIN) Act under Republic Act No. 10963. Earlier BIR data showed that from January to March, the BIR collected P7.704 billion from the tax on sugary drinks, although b...
Keep on reading: BIR issues rules on excise taxes on sweetened beverages
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