Congress has approved the bill imposing additional taxes on alcohol, cigarettes, and vape products, which will be submitted to Pres. Rodrigo Duterte for signing, according to CNN Philippines. If the president signs the bill, it will be passed into law.
Here are the additional taxes for 2020 included in the bill, according to Rappler:
- Fermented alcohol (beer) - P35
- Distilled spirits - P42, plus an ad valorem tax of 22 percent
- Sparkling and still wine - P50
- Heated tobacco products (pack of 20s) - P25
- Salt nicotine vapor product - P37
- Free base vapor product - P45
On its first year of implementation, the bill is expected to generate P22.2 billion, with net incremental revenues projected at P17.1 billion. According to Rappler, the money will go to the implementation of the Universal Health Care law (60 percent), construction of health facilities (20 percent), and implementation of programs under the Sustainable Development Goals (20 percent).
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