Republic Acts1 min read
Section 11Sec./Art. 11
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A new section designated as Section 263-A under Chapter II, Title X of the National Internal Revenue Code of 1997, as amended, is hereby inserted and shall be read as follows:
"Sec. 263-A. Selling of Heated Tobacco Products and Vapor Products at a Price Lower Than the Combined Excise and Value-Added Taxes. Any person who sells heated tobacco products and vapor products at a price lower than the combined excise and value-added taxes shall be punished with a fine of ten (10) times the amount of excise tax plus value-added tax but not less than One hundred thousand pesos (₱100,000.00), and imprisonment of not less than two (2) years but not more than four (4) years.
"If there is a question on whether a nicotine product is a heated tobacco product or vapor product for purposes of taxation under this Section, the proper tax classification thereof shall be resolved through revenue regulations issued by the Secretary of Finance."
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