References in periodicals archive
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this reflects the four percent adjustment in sin taxes according to the sin tax law, so that's expected, it's okay," the finance chief said.
As a result, the growth in sin tax collections last year also outpaced the mere 1.
The sin tax reform law, or Republic Act 10351, aims to simplify the current excise-tax system on alcohol and tobacco products and addresses public health issues relating to alcohol and tobacco consumption.
NVAP President Emer Rojas hopes that President Rodrigo Duterte will make an announcement on a comprehensive plan to utilize the sin tax when he addresses Filipinos on his first State of the Nation Address on Monday.
A sin tax is a way of raising taxes on luxury spending without coming out and saying you want to target people who spend on luxuries.
Even with a sin tax increase and the added sales tax on top of it, business owners don't think people will stop buying tobacco and alcohol.
If they want to re-claim a position of genuine leadership, they should begin repealing sin taxes, on the basis that the imposition of any sin tax violates the rights of people who are peacefully engaged in lawful behavior.
However, the court ruled that Duty Free's exemption from VAT under the Tourism Act of 2009, or RA 9593, remained and was not affected by the amendment introduced by the sin tax law in 2012.
The Tobin tax can be seen as a form of sin tax -- the sin being currency market speculation," remarked Tobin proponent Thomas Palley, assistant director of policy for the AFL-CIO.
This is a sin tax, not intended to raise a single penny in revenue.
Rojas said despite a landmark legislation amending the sin tax on tobacco in 2012 the Philippines remains to have one of the world's cheapest cigarette products and the lowest tobacco tax.
The sin tax is an especially effective way to ratchet up the state's takings because it's based on divide-and-conquer politics.
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