Senate, House agree on 5% cosmetic tax

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The House of Representatives and Senate have reached a compromise and agreed to impose a five-percent excise tax on cosmetic surgeries and body enhancements for aesthetic reasons.

“Cosmetic tax at 5% approved by Bicam,” Senate Minority Leader Franklin Drilon said in a text message on Friday.

The bicameral conference committee had been meeting to reconcile their versions of the proposed Tax Reform for Acceleration and Inclusion (TRAIN) act.

Drilon earlier said that there was strong opposition from congressmen on the imposition of cosmetic tax.

Senator Sonny Angara, chairman of the Senate ways and means committee, earlier proposed a 20-percent cosmetic tax. But the Senate later agreed to reduce it to 10 percent.          /kga