IN line with the government’s commitment to uplift the lives of Filipino people, Republic Act (RA) 11467 was signed by the President Rodrigo Duterte last January 22, increasing excise taxes on alcohol, heated tobacco, and vapor products, and expanding the coverage of value-added tax (VAT) on the sale and importation of certain medicines.
This new law amended Sections 109, 141-144, 147, 152, 263, 263-A, 265, and added a new Section 290-A to RA 8424, as amended, otherwise known as the “National Internal Revenue Code of 1997” (NIRC), effective Jan. 1, 2020.