Senate OKs tobacco excise tax hike
Credit to Author: Tempo Desk| Date: Mon, 03 Jun 2019 13:09:55 +0000
The Senate overwhelmingly approved on third and final reading last night the measure seeking to raise the excise tax on tobacco products.
Senate Bill No. 2233, which proposes a staggered excise tax increase per cigarette pack starting January 2020, has been certified as urgent by President Duterte.
The measure aims to reduce the prevalence of smoking among Filipinos and raise funding for the continuous implementation of the government’s Universal Health Care program.
Sen. Juan Edgardo “Sonny” Angara, chairman of the Senate Ways and Means panel, sponsored the measure.
SB 2233 raises the excise tax by P45 per pack effective Jan. 1, 2020, P50 January 2021, P55 January 2022, and P60 in Jan. 1, 2023.
There would be a five percent annual increase effective Jan. 1, 2024.
Senate President Vicente C. Sotto III said the House of Representatives have committed to adopt the Senate version so they do not have to go through a bicameral conference committee.
If this happens, the measure will be sent immediately to Malacañang for the President’s signature.
Twenty senators approved the measure with none against and no abstentions. (Hannah L. Torregoza)