If It Isn't Broke, Don't Fix It

Source from:  Tobacco Reporter 11/01/2010

PMFTC is urging the Philippines' government to extend its tobacco tax law by another five to six years instead of restructuring it, according to a story in the Manila Bulletin. PMFTC president, Chris Nelson, said that government revenues from the existing tax law, which allows an excise tax rate rise every two years, have been increasing. "Why discuss the restructuring when the law is proving to be successful?" he asked. Nelson's question was posed after the National Economic and Development Authority (NEDA) proposed restructuring the current excise taxes on alcohol and tobacco products. The current tax law, Republic Act (RA) 9334, or the sin-tax law, is due to expire next year. Enditem