Sin Tax Bill Essay

563 WordsAug 16, 20123 Pages
Senator Ralph Recto on Thursday expressed optimism that the sin tax bill will be passed before the year ends as worries that the proposed measure will kill the tobacco industry persist. Speaking to reporters after the first committee hearing of the Senate committee on ways and means on HB 5727, “An Act Restructuring the Excise Tax on alcohol and Tobacco Products” or popularly called the sin tax bill, Recto said that by November or December, they will be able pass the bill and signed it into law. “In a month’s time we can wrap up the hearing, and a week or two at most we can make the committee report a month for the debate in the Senate, a month for the bicam so we can be done by the of the year,” he said. However, Recto said that they have not determined the exact percentage of the tax increase which will be imposed on liquor and tobacco products adding that the House version states that different tax rates will be enforced on the two industries. “The idea is to come up with a fair, responsible measure that would generate the revenue as well for the PhilHealth and for the other health needs of the health sector. A fair and reasonable manner,” he said nevertheless. “Zero percent tax rate, there is nothing to collect; a 100 percent tax rate, there is nothing to collect,” Recto added. Meanwhile, in a separate interview, Senator Ferdinand Marcos Jr. said that the idea of imposing additional tax on “sin products” is generally accepted by the public but he warned that excessive taxes on liquor and tobacco products will kill the industry and displace millions of Filipinos depending on these for their livelihood. He added that three million Filipinos are dependent on the tobacco industry alone. “If the government is bent on reducing the number of smokers, tobacco farmers will be put out of work and it will affect traders. What shall

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