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MANILA, Philippines – Senators are deliberating on a crucial measure to restructure the excise tax system that will result in higher prices of “sin” products – tobacco and liquor.
In a landslide vote in June, lawmakers at the House of Representatives passed Palace-backed House Bill 5727, which aims to raise at least P32 billion in taxes from sin products during the first year. The measure is a watered down version of the original bill filed in the House that sought to raise P60 billion.
In Senate, Sen Miriam Defensor-Santiago filed Senate Bill 3249 or An Act Restructuring the Excise Tax on Alcohol and Tobacco Products, which has provisions close to the original bill in the House.
This live blog contains updates on the Senate ways and means committee hearing on the planned sin tax reform.
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You may also view the live blog in the old format below.
– Rappler.com
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