Ted Failon investigates the alleged monopoly of the cigarette industry by a tobacco company and how the Tobacco Excise Tax of 1996 is working to its advantage this Saturday (Nov 3) in “Failon Ngayon.”
Back in 1996, cigarettes only costs P4.00 per pack and only has a sin tax of P2.72 as mandated by the Tobacco Excise Tax law. This 2013, the same cigarette products that entered the market seventeen years ago now costs P15.00 yet still pay the same amount of sin tax thus, it is being sold now for only P17.72.
The new brand of cigarettes that entered the market only this year, however, also cost P15.00 yet has a sin tax amounting to P28.30. They are sold for P43.30 per pack which is why more smokers prefer the older brands.
Who is behind this monopoly? What are these cigarette brands that are playing God in the tobacco industry by paying only P2.72 tax?
Don’t miss the full report on “Failon Ngayon” this Saturday (Nov 3), 4:45 PM on ABS-CBN with a replay on ANC every Sunday at 2 PM. Visit its Facebook page at www.facebook.com/failon.ngayon and follow it on Twitter via @Failon_Ngayon. Tweet your thoughts and reaction this weekend using the hashtag #FailonNgayon.