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Philippine credit rating up after tax reform

Philippine credit rating up after tax reform

| May 1, 2013

Fitch Ratings recently raised Philippines’ credit worthiness to “BBB-,” saying recent “sin” tax reforms demonstrated the government’s commitment to strengthening its revenue base. In January, the Philippines enacted new alcohol and tobacco tax laws, which raised the price of locally made, low-end cigarette brands by about 700 percent.

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