BIR estimates P343.12-M tax on Illicit cigarettes seized in Cebu

Almost eight million packs of illicit cigarettes were confiscated in Cebu City, which translates to an estimated tax liability of P343.12 million, according to the Bureau of Internal Revenue. This operation highlights the ongoing battle against illegal tobacco trade and its significant financial impact on government tax revenue. The seizure underscores the importance of stringent enforcement to curb the flow of counterfeit goods and protect legitimate businesses from unfair competition.