New Process for Excise Tax Collections  

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vicanuck
(@vicanuck)
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Joined: 9 years ago
Posts: 2304
January 11, 2019 1:46 pm  

I read this article in the St. Thomas Source.

I have to admit that I really don't understand the "new" process but from the sound of it, its much worse that the old excise tax scheme.

Here's the link:  https://stthomassource.com/content/2019/01/10/bir-explains-excise-tax-process-to-manufacturers/?fbclid=IwAR0pvihWWmF1DeeoF_8cxToY8HNWe5jt0z5J-WBqBuQTgI4o21dErPKLNzY

I would be interest to know what others think of this and if anyone has any knowledge of how this will actually work.


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CruzanIron
(@CruzanIron)
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Posts: 2416
January 12, 2019 8:39 am  

In summary, since you are a manufacturer of printed material, you will have to pay an excise tax based on your gross sales. 


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vicanuck
(@vicanuck)
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Joined: 9 years ago
Posts: 2304
January 14, 2019 8:06 am  
Posted by: CruzanIron

In summary, since you are a manufacturer of printed material, you will have to pay an excise tax based on your gross sales. 

Perhaps I'll just add it as a line item on invoices.


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