Selling below floor price of cigarette and vape is illegal The BIR released new tax updates regulating the floor price of Cigarettes, Heated Tobacco, Vaporized Nicotine, and Non-Nicotine Products through the issuance of Revenue Memorandum Circular No. 49-2023 on May 5. Pursuant to the existing laws, the BIR is mandated to prescribe the floor price […]
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