HIGHER TAXES. Senator Pia Cayetano introduces to the plenary Senate Bill No. 1074 seeking to increase alcohol and cigarette taxes. Photo by Angie de Silva/Rappler
MANILA, Philippines – The Senate ways and means committee has approved a measure increasing taxes on alcohol and cigarettes. On Wednesday, September 25, Senator Pia Cayetano, chair of the committee, introduced to the plenary Committee Report No. 6 with Senate Bill No. 1074, in a bid to"curb vices" and increase funding for the Universal Health Care law.
SB 1074 consolidated Senator Manny Pacquiao's SB 383 and SB 987. The consolidated bill seeks to amend the National Internal Revenue Code of 1997 and introduce new taxation on the following items:After 2023, SB 1074 proposes a 10% increase in taxes every year for the said alcohol products, effective January 1.After 2023, the bill proposes a tax increase of 5% every year for cigarettes and 10% for alcohol products, effective January 1.
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