climate change

Teves on sin taxes: Aquino has to show political will

Taxes slapped on "sin" products, including cigarettes and alcohol, are necessary in generating additional revenues for health-related costs and investments, according to former finance secretary Margarito Teves.

MANILA, Philippines – Taxes slapped on “sin” products, including cigarettes and alcohol, are necessary in generating additional revenues for health-related costs and investments, according to former finance secretary Margarito Teves.

Teves pushed for the passage of an improved and simplified sin tax system when he was serving under former president Gloria Macapagal Arroyo, an unpopular leader. He said incumbent president Benigno Aquino III can tap on his popularity to push it again in Congress.

For a major issue like sin taxes, Teves said lawmakers wait for a clear signal from the president

He spoke to Lala Rimando of Move.PH at the sidelines of the Punongbayan & Araullo business forum in Shangrila Hotel Manila on October 19, 2011.

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