UN concerned over tobacco fair in Philippines
The World Health Organization has expressed concern that the Philippines is encouraging smoking by hosting one of the world’s largest tobacco trade shows.
The World Health Organization has expressed concern that the Philippines is encouraging smoking by hosting one of the world’s largest tobacco trade shows.
The Philippine economy remains in an extended sweet spot considering the strong outlook for growth and the prevailing low-inflation environment, according to the DBS Group.
The Manila City Regional Trial Court Branch 17 refused to restrain the Department of Finance and the Bureau of Internal Revenue (BIR) from enforcing the rules and regulations of Republic Act 10351, or the Sin Tax Law of 2012.
Smokers who patronize lower-priced cigarette brands will have to pay more to get their fix starting next week as the Bureau of Internal Revenue has issued new rules on the implementation of revised excise tax rates under the sin tax reform law.
Health advocates on Friday expressed concern over the decision of British American Tobacco (BAT) to invest $200 million in the Philippines.
Senator Ralph Recto on Tuesday proposed that more than half of the P40 billion additional revenue that is expected to be collected from increased “sin” taxes should be released directly to the Philippine Health Insurance Corp., or PhilHealth).
The proposed legislation seeking to impose higher excise taxes on liquor and tobacco products, more popularly known as the sin tax bill, is one of the most controversial pieces of legislation that ever crossed the halls of Congress.
Senate ways and means committee chair Franklin Drilon expects the chamber to approve the controversial sin tax bill on both second and third (final) readings Monday after President Aquino certified it as urgent before leaving for Cambodia.
A group of businessmen and professionals has warned that the government would lose, instead of generate more, revenues if it implements the proposal to slap much higher taxes on cigarettes. In the end, government might resort to increasing income taxes, the group warned.
Businessman Lucio Tan has excluded flag carrier Philippine Airlines and budget airline Air Philippines Corp. from the roster of core businesses to be infused into Tanduay Holdings Inc. ahead of a major equity offering and transformation of the company into a holding company to be known as LT Group Inc.
State health agencies might not be able to immediately absorb the expected incremental revenues from the proposed sin tax reform bill, a Cabinet official said on Thursday.
Finance Secretary Cesar Purisima and Bureau of Internal Revenue Commissioner Kim Henares denied on Wednesday that they favored the House of Representatives’ version of the sin tax bill that imposed much less taxes on beer and alcohol, as alleged by Sen. Ralph Recto.
