China is interested in providing the Philippines with a laser-based, excise-tax stamp technology.
Batangas Rep. Tom Apacible said that the Chinese met with Bureau of Internal Revenue chief Kim Henares to signify that they want to compete with Philip Morris Fortune Tobacco Corp. or PMFTC in supply the government with a reliable technology.
PMFTC has an outstanding offer for government to take its technology in place of that offered by a Lausanne, Switzerland-based security products maker, SICPA.
“The Chinese are not turning away from the country. They want to make a Swiss challenge to whatever technology is already on the table of the BIR," said Apacible, a former Customs commissioner.