A vendor sells cigarettes at a supermarket in Quezon City in this file photo. A proposed bill restructuring the excise tax on tobacco and alcohol products is seen to generate some P60 billion, according to President Benigno Aquino III, who is pushing for the passing of the sin tax reform bill. AFP/JAY DIRECTO
MANILA, Philippines – The House of Representatives has approved on second reading the controversial bill that would raise taxes on tobacco and alcohol products.
House Bill 5727 was passed at the plenary with majority of lawmakers present voting in the affirmative. Voting for the passage of the bill on third and final reading is ongoing.
Primarily sponsored by Davao City Representative Isidro Ungab, the measure seeks to raise P33 billion in revenues annually, lower than the initial P60 billion target.