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    Tobacco. - The Financial Support Given by The National Government For The Beneficiary

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    Edward Kenneth Kung
    The document outlines how 15% of excise taxes on locally manufactured Virginia cigarettes will provide financial support to beneficiary provinces that produce Virginia tobacco. The funds will be divided among these provinces based on their volume of Virginia tobacco production. To qualify as a beneficiary province, an average annual production of at least 1 million kilos of Virginia leaf tobacco is required. The Department of Budget and Management will determine the beneficiary provinces and their shares each year based on tobacco acceptance records from the previous year.

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    Tobacco. - The Financial Support Given by The National Government For The Beneficiary

    Uploaded by

    Edward Kenneth Kung
    12 views1 page
    The document outlines how 15% of excise taxes on locally manufactured Virginia cigarettes will provide financial support to beneficiary provinces that produce Virginia tobacco. The funds will be divided among these provinces based on their volume of Virginia tobacco production. To qualify as a beneficiary province, an average annual production of at least 1 million kilos of Virginia leaf tobacco is required. The Department of Budget and Management will determine the beneficiary provinces and their shares each year based on tobacco acceptance records from the previous year.

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    Section 289

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    The document outlines how 15% of excise taxes on locally manufactured Virginia cigarettes will provide financial support to beneficiary provinces that produce Virginia tobacco. The funds will be divided among these provinces based on their volume of Virginia tobacco production. To qualify as a beneficiary province, an average annual production of at least 1 million kilos of Virginia leaf tobacco is required. The Department of Budget and Management will determine the beneficiary provinces and their shares each year based on tobacco acceptance records from the previous year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    12 views1 page

    Tobacco. - The Financial Support Given by The National Government For The Beneficiary

    Uploaded by

    Edward Kenneth Kung
    The document outlines how 15% of excise taxes on locally manufactured Virginia cigarettes will provide financial support to beneficiary provinces that produce Virginia tobacco. The funds will be divided among these provinces based on their volume of Virginia tobacco production. To qualify as a beneficiary province, an average annual production of at least 1 million kilos of Virginia leaf tobacco is required. The Department of Budget and Management will determine the beneficiary provinces and their shares each year based on tobacco acceptance records from the previous year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Section 289. Special Financial Support to Beneficiary Provinces Producing Virginia Tobacco.

    - The financial support given by the National Government for the beneficiary provinces shall be constituted and collected from the proceeds of fifteen percent (15%) of the excise taxes on locally manufactured Virginia-type of cigarettes. The funds allotted shall be divided among the beneficiary provinces pro-rata according to the volume of Virginia tobacco production. Production producing Virginia tobacco shall be the beneficiary provinces under Republic Act No. 7171. Provided, however, that to qualify as beneficiary under R.A. No. 7171, a province must have an average annual production of Virginia leaf tobacco in an amount not less than one million kilos: Provided, further, that the Department of Budget and Management (DBM) shall each year determine the beneficiary provinces and their computed share of the funds under R.A. No. 7171, referring to the National Tobacco Administration (NTA) records of tobacco acceptances, at the tobacco trading centers for the immediate past year. The Secretary of Budget and Management is hereby directed to retain annually the said funds equivalent to fifteen percent (15%) of excise taxes on locally manufactured Virginia type cigarettes to be remitted to the beneficiary provinces qualified under R.A. No. 7171. The provision of existing laws to the contrary notwithstanding, the fifteen percent (15%) share from government revenues mentioned in R.A. No. 7171 and due to the Virginia tobacco-producing provinces shall be directly remitted to the provinces concerned. Provided, That this Section shall be implemented in accordance with the guidelines of Memorandum Circular No. 61-A dated November 28, 1993, which amended Memorandum Circular No. 61, entitled "Prescribing Guidelines for Implementing Republic Act No. 7171", dated January 1, 1992. Provided, further, That in addition to the local government units mentioned in the above circular, the concerned officials in the province shall be consulted as regards the identification of projects to be financed.

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