The prices of tobacco and alcohol products were increased in the Philippines yesterday as the second phase of the country’s so-called sin-tax law came into force, according to a Philippine Daily Inquirer story.
The tax on lower-priced cigarettes was increased to P17 a pack and that on higher-priced cigarettes to P27 a pack.
The taxes on both lower- and higher-priced tobacco products are due to rise until 2017, when all tobacco products will be taxed at P30 per pack.
Republic Act 10351, generally known as the sin tax law stipulates that a portion of the revenues collected from sin taxes will be allocated to projects that will benefit tobacco farmers and workers nation-wide.
A portion of the revenues will go, also, to health care and the improvement of medical facilities nationwide.
Category: Breaking News