Philippines to release delayed tobacco tax funds

Tobacco growers in flue-cured producing provinces of the Philippines are due to share in at least P3.5 billion (US$79 million) of tobacco excise tax revenue, which the Department of Budget and Management (DBM) has agreed to release this month, according to a story in the Manila Bulletin.

The long-awaited release of the funds that relate to 2012 and 2013 was announced on Friday by the DBM Secretary.

The release had been delayed by legal problems, but the disbursement of funds is now expected to go ahead following guidelines set by the DBM and the National Tobacco Administration, under which tobacco growers are due to benefit directly.

DBM records indicate that out of the P3.5 billion, P1.1 billion is destined for Ilocos Sur; P531 million for Ilocos Norte; P469 million for La Union; and P432 million for Abra.