DOF ‘willing to listen’ to all sides in debate on halt to sin tax hikes

Quick Summary:

Amid a clamor against suspending the annual increase of excise tax rates on tobacco, the Department of Finance (DOF) said it is willing to listen to all sides as tax collections decrease.

Sin taxes collected from tobacco products are earmarked for universal health care (85 percent) and tobacco-producing provinces (15 percent).

The total number of cigarettes smoked will also go up by 4.8 percent and a 2.4 percent increase in smoking intensity.“Rather than mitigating illicit trade, HB 11279 will deliver a dirty punch to both the government’s tax collections and to public health.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Taxes Billion Excise Products Revenues Increase Tobacco Health Percent Cigarettes Recto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-17 @ 12:38:12 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 686 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25219178

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