BIR expects single-use plastics tax to raise revenue of up to P10B per year - BusinessWorld Online

BIR expects single-use plastics tax to raise revenue of up to P10B per year - BusinessWorld Online

THE GOVERNMENT expects up to P10 billion in revenue yearly from the proposal to impose an excise tax on single-use plastics, the Bureau of Internal Revenue (BIR) said. Commissioner Charlito Martin R. Mendoza told BusinessWorld last week that the proposed tax measure is projected to generate between P6 billion and P10 billion annually, “depending on the rate and coverage.” The plastic tax measure is among the priority bills of the Marcos administ…