With the increase in prices of liquor in the market following the passage of Republic Act No. 10351 or the Sin Tax Law, a “lambanog” producer expects a rise in sales of coconut-based liquor.
HOPING to minimize the impact of the “sin tax” measure, the tobacco industry will have to resort to “import substitution” and step up local production of tobacco while cutting back on imports.
Only the earmarking of the revenues from the sin tax bill is left to be discussed in the bicameral conference after its members concluded deliberations on tax rates Thursday night.
The bicameral conference committee on the sin tax reform bill on Thursday moved towards setting the measure’s revenue target to P33.5-P35 billion.
The bicameral conference committee on the sin tax reform bill on Thursday agreed to set the measure’s revenue target to P35 billion.
The writing is already on the wall: This battle royal over the “sin tax” bill in the Senate now centers—simply—on the “appropriate” rate of increase in the excise tax on tobacco and alcohol products, and it is no longer about the wondrous splendor of the bill, such as its health benefits and miraculous economic impact.
The sin tax bill, which could be passed within November, will fill a budget gap in the Department of Health (DOH), Senator Franklin Drilon said Monday.
Senator Edgardo Angara believes a P30 billion to P40 billion “sweet spot” for the Sin Tax Reform Bill will satisfy all sectors involved in the issue.
Did smoke get in his eyes that resulted in a watered-down sin tax reform bill?
A panel in the Senate has endorsed for plenary debates its own version of “sin tax” bill, which would cut by half the tax being imposed on imported “distilled spirits” but impose as high as 121 percent additional tax on low-priced cigarettes.
The Senate is now ready to start plenary debates on a measure that seeks to impose higher taxes on alcohol and tobacco products also known as “sin tax” bill, which is expected to generate P15 billion to P20 billion government revenues.
Asthma is no walk in the park. I’ve been having some very annoying asthma attacks over the past few months—no thanks to the ridiculously erratic weather and the countless smoke-befogged boardrooms and offices I’ve had to endure lately. And the doctor gave me a choice between the beach or my room. Since I dread the thought of fighting the traffic and enduring a long drive to a decent beach where I can have some peace and quiet, I’ve elected to stay home, crank up the air conditioner in my room, read old pocketbooks and watch some DVDs. There is something to be said for peaceful rooms free of noise, stress and, yes, cigarette smoke, the bane of every asthmatic’s existence.
