FORTUNE AND ANGLO AMERICAN

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                    [ArticleID] => 265064
                    [Title] => Local cigarette firms buck Philip Morris tax proposal
                    [Summary] => Makers of low-priced cigarettes    joined hands yesterday in rejecting a proposal by tobacco giant Philip Morris Philippines  Inc. (PMPI) for a uniform tax increase of P1 for all cigarette brands.


In a joint statement, Fortune Tobacco Corp. and Associated Anglo American Tobacco Corp. said that while they fully support President Arroyo’s appeal to help raise much-needed revenue from the tobacco industry, PMPI’s proposal will effectively "kill" low and medium-priced brands and displace thousands of tobacco farmers and factory workers.


                    [DatePublished] => 2004-09-17 00:00:00
                    [ColumnID] => 133272
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                    [SectionName] => Business
                    [SectionUrl] => business
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Local cigarette firms buck Philip Morris tax proposal

September 17, 2004 - 12:00am

Makers of low-priced cigarettes joined hands yesterday in rejecting a proposal by tobacco giant Philip Morris Philippines Inc. (PMPI) for a uniform tax increase of P1 for all cigarette brands. In a joint statement,...

Business