Phillipines: ''Sin Tax'' Awaits Aquino Signature

Source from:  Tobacco Journal 12/14/2012

The controversial 'sin tax' that would impose duties on cigarettes ranging up to about PHP 25 (EUR 0.47) per pack awaits the signature of President Benigno Aquino, according to the ABS-CBN website.
 
Once signed, the law in the first year will impose a tax of PHP 12 per pack for hand-packed cigarettes and from about PHP 20 to PHP 25 for machine-packed cigarettes, ABS-CBN reported. Compromise legislation was passed earlier this week by the Senate and House. Taxes for beer are projected between PHP 15 and PHP 28 while duty on a bottle of wine could be anywhere between PHP 30 and PHP 700, according to the news site.

January 1 is the target date for implementation of the duties on tobacco and alcohol products. In successive years, the Bureau of Internal Revenue will conduct price surveys and make recommendations on retail prices based on the new tax system, ABS-CBN reported. This means taxes on some products will be raised in coming years, the news site reported.

Eighty per cent of the new revenue is supposed to go for universal health care, said ABS-CBN. (pi) Enditem