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nov03.2013.docCongress to probe fraudulent reporting of cigarette withdrawals & importations

nov03.2013.docCongress to probe fraudulent reporting of cigarette withdrawals & importations

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Congress to probe fraudulent reporting of cigarette withdrawals & importations
Congress to probe fraudulent reporting of cigarette withdrawals & importations

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Published by: pribhor2 on Nov 03, 2013
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11/03/2013

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Congress to probe fraudulent reportingof cigarette withdrawals & importations
The House Committee on Ways and Means is set to conduct an inquiry into the alleged fraudulent reporting of volume of tobacco and cigarette withdrawals or importations committed by unscrupulous entities which have resulted in undervaluation or misdeclaration of these products and grossly incorrect excise taxes paid to the government.Rep. aolo !avier "#one $istrict% &ntique' sought the inquiry through House Resolution ()*% saying questions arose as to how certain cigarette brands can be sold at such low prices despite the tax increases% and whether the government is maximi+ing the tax revenues when there are reports of massive down,trading from high,priced to low, priced brands.-There is a need to review the consequences and implications of the recent excise tax increases in view of current maret conditions and the proper implementation of Republic &ct /01*/% otherwise nown as &n Restructuring The 2xcise Tax on &lcohol and Tobacco roducts of )0/)% to ensure that the ob3ectives and purposes of the law are reali+ed4 that tax administration is improved% tax leaages stopped% and that there is proper reporting and monitoring of raw materials used in the manufacture of cigarettes4 and that the government is not deprived of its rightful tax revenues from alleged under or misdeclaration of cigarette volumes and under or misdeclaration of imported raw materials used in cigarette production%5 said !avier.!avier% an &ssistant Ma3ority #eader and member of the Committee on Ways and Means% cited that available research and studies show that as of $ecember )0/)% the smoing incidence was close to *0 percent among adults% whereas in !une )0/1% the smoing incidence was shown to have remained stable at */ percent despite the substantial increase in excise taxes and significant drop in tax paid or legitimate volumes.-This phenomenon% wherein smoing incidence is increasing despite the substantial increase in excise taxes and significant drop in tax paid or legitimate volume% can be attributed to the sale and distribution of contraband or illicit cigarettes%5 he said.Hence% there is a need to closely monitor the movement of tobacco products especially those being withdrawn from premises of registered cigarette manufacturers to ensure the correct volumes are being declared and the correct taxes thereon are being paid according to him.!avier filed the resolution after Rep. 6arlo &lexei 7ograles "/st $istrict% $avao
NR # 3276NOV. 3, 2013

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