excise duties tagged posts

India Uncovers INR 136 Billion of Evaded Taxes

April 11, 2012 Taxation in India

Tax Evasion Uncovered in IndiaNEW DELHI – Recent investigations by national tax authorities have proven that businesses across India evaded billions in taxes last year, with one particular group of related entities neglecting to pay nearly INR 8 billion in one year alone.

On April 10th the Ministry of Finance of India released a statement revealing that investigations conducted over the first 11 month of the 2011 – 2012 fiscal year by officials of the Central Board of Customs and Excise (CBEC) and the Central Excise Intelligence (CEI) uncovered evidence pointing to evasion of payment of INR 102.86 billion of service taxes and INR 33.3 billion in excise duties.

According to the Ministry of Finance, so far approximately INR 11...

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Philippines Tackles Tobacco Addiction with Taxes

February 29, 2012 Taxation in Philippines

Tobacco Excise Duties in Philippines to be RaisedMANILA – The government of the Philippines will update the nations excise taxes on the sale of cigarettes, to lower the country’s smoking rate and to increase government revenues.

On February 28th the House of Representatives of the Philippines held a hearing on a new bill proposing an overhaul to the excise taxes imposed on the sale of cigarettes in the Philippines, which will instate a single unitary tax rate to be adjusted annually in line with the level of inflation in the country.

The government currently estimates that the new tax could raise as much as PHP 400 billion in tax revenues by 2016, of which approximately PHP 225 billion will be used to create new projects to help local farmers convert their tobacco plantations to other types of crops.

The Department of Health of the Phi...

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