MANILA, Philippines – The Senate Committee on Ways and Means on Monday said that they are targeting to pass a bill that will press for sin taxes which are much higher than that of the House version.
This after President Rodrigo Duterte on Tuesday (November 12) certified Senate Bill 1074 that seeks to impose higher taxes on alcohol and e-cigarettes including heated tobacco products and vapes.
The higher sin tax aims to support the implementation of the Universal Health Care Act.
Committee chairperson, Sen. Pia Cayetano, said the higher sin tax will ensure that there will be sufficient funds for health services for all Filipinos and lesser consumption of the said sin products.
“I am pushing for a version that recommends higher tax rates than those approved by the House of Representatives for two reasons: first, it will provide proper funding for the delivery of health services to all Filipinos; and second, it will effectively reduce the consumption of sin products,” Cayetano said
In the House version, an estimated P47.9-billion tax will be collected and be allocated to the Universal Health Care program.
A total of P356.9-billion will be allotted for the program in the next five years. (with details from Nel Maribojoc) /mbmf