BREAKING: Duterte signs higher sin tax for tobacco.
President Rodrigo Duterte signed on Thursday a law that would increase further the excise tax imposed on tobacco products, Executive Secretary Salvador Medialdea said.
Duterte signed Republic Act 11346.
'To address the urgent need to protect the right to health of the Filipino people and to maintain a broader fiscal space to support the implementation of the Universal Health Care Act, the President has signed into law HB No. 8677 / SB No. 2233 Increasing the Excise Tax on Tabacco Products,' Medialdea said.
After the signing of the law, cigarettes would be more expensive by at least P10 starting Jan. 1, 2020
The law increased the excise tax on cigarettes by P45 per pack effective January 1, 2020. It would also raise the excise tax on cigarettes to P50 per pack in 2021, P55 per pack in January 2022, and P60 per pack starting January 1, 2023.
The further increase in tobacco excise tax is part of the administration's tax reform package 2-plus.
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|Publication:||Philippines Daily Inquirer (Makati City, Philippines)|
|Date:||Jul 25, 2019|
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