MANILA - Tax revenues from so-called "sin" products reached P8.89 billion in April, surpassing the target of P7.85 billion, the Bureau of Internal Revenue (BIR) said on Thursday.
April's tax collection from cigarettes and alcohol was 1.09 percent higher from the P8.79 billion collected in April last year, the tax agency said.
Excise tax collection in cigarettes for April, however, went down 11.91 percent to P4.88 billion from the P5.54 billion in April 2015.
"The decrease in excise tax collection in cigarettes for April 2016 compared to April 2015 is still largely due to the implementation of the Graphic Health Warning Law," BIR said in a statement.
Since January this year, BIR has collected P35.50 billion from the sin products.