Tobacco tax hikes may have reduced revenues, fueled illicit trade — economist
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Source: The Manila Times
Published: 2026-07-19 21:18 UTC+10:00
Section: General
Factuality Score: 95
Opinion Category: Neutral
Topics: Politics, Philippines, Economy & Finance, Financial Markets, Tax & Budget, Trade & Sanctions, World News, Business & Economy, Asia Pacific
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Snippet:
MANILA, Philippines — American economist Arthur Laffer said the Philippines' successive increases in tobacco excise taxes may have reached a point where higher tax rates are reducing government revenues while encouraging the growth of the illicit cigarette market.
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