President aquino signed yesterday the sin tax reform bill into law, paving the way for higher cigarette and liquor prices in the coming weeks. State sin tax collections exceeded $32 billion in fiscal year 2014, representing roughly 38 percent of total tax revenues while they're not a major source of revenue in most states, some. Answer 31 of 36: any word on whether the sin tax (bill # 32-0005: ) has been approved by all levels.
Manila, philippines - the long wait is over on thursday, december 20, president benigno aquino iii signed the sin tax bill into law, ending a grueling battle to reform the philippines. A sin tax is an excise tax specifically levied on certain goods deemed harmful to society, for example alcohol and tobacco, candies, drugs, soft drinks. On 20 december 2012, the philippine president, benigno aquino iii, signed republic act 10351, or the sin tax law, ending a 15-year impasse in restructuring levies imposed on “sin” products.
Sin taxes house bill 5727, or the sin tax bill, aims to restructure the existing taxes imposed on alcohol and tobacco goods duties on these products are a potential revenue source that. The sin tax, moreover, fails to consider the crucial distinction between vice and crime before we empower the government with what are, effectively.
What is a 'sin tax' a sin tax is a state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling these types of taxes are levied by. The newly passed sin tax reform bill increased taxes on all tobacco the philippines still has one of the most affordable tobacco prices in the region reaching. Aquino junks protectionist provision in sin tax bill december 22, 2012 by: norman bordadora editors' picks.