Bicam approves proposed add’l taxes on cigarettes, salty foods, alcohol, vapor products

Maris Federez

MANILA, Philippines— The two chambers of Congress have agreed on the final version of the Sin Tax Law.

The Bicameral Conference Committee on Wednesday (Dec. 18) approved the bill that proposes an additional tax on cigarettes, salty foods, alcohol and vapor products.

The bill provides for the application of the additional tax on fermented products from Php 35 in 2020 to Php 43 by the year 2024, while distilled products will be imposed with P35 to 66 taxes, wines with added Php 50 tax, and heated tobacco with additional Php 25 in the coming year.

The bicam has also approved the provision that prevents selling to vape products to buyers who are 21 years old and below.

“Kung ikaw ay hindi pa 21, definitely hindi pwede, tatanungin ka pa, nagyoyosi ka ba, kapag hindi ka nagyoyosi hindi ka pwede,” said House Committee on Ways and Means chairman, Rep. Joey Salceda.

This measure seeks to collect Php 24.9-Million taxes, and such will be used in the implementation of the Universal Health Care Act.

“I think all the health advocates sana mas mataas pa as a revenue measure, I had also hope na mas mataas,” Senate Committee on Ways and Means chair Pia Cayetano added.

The approved bill also provided for a clearer rule on VAT exemptions on medicines for diabetes, hypertension and high cholesterol.

And by 2023, medicines for mental health, cancer, and tuberculosis will also be VAT-exempt. — (from the report of Nel Maribojoc) /mbmf

The post Bicam approves proposed add’l taxes on cigarettes, salty foods, alcohol, vapor products appeared first on UNTV News.