Stock News 2011: Revenues from tobacco higher than expected

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The Philippine Tobacco Institute (PTI) said over the weekend that the government revenues from tobacco products would continue to do well this year following the effectivity of the 8 percent excise tax on January 1.

In a statement, Rodolfo Salanga, PTI president cited data from the Bureau of Internal Revenue (BIR) showing that from January to November last year, total excise tax collection from tobacco products have already amounted to P27.83 billion.

Salanga said the amount as of November was already higher than the P25.8 billion expected revenues by the Department of Finance (DoF) for the full year of 2010.

http://www.mb.com.ph/node/297949/revenue