Lower House Approves Two-Tier Excise Tax System for Cigarettes

The House of Representatives approved a bill that would retain a two-tier excise tax system for cigarettes. If it passes the Senate, the proposal would stop the implementation of a reform law in 2012 placing all cigarette products under a single tax levy by 2017, which would have increased government revenue and deter smoking. The swift passing caught everyone by surprise as it was only filed less than two months ago. Still, this should encounter more opposition in the Senate, as finance and health officials, as well as big…

Subscribe via email for complete access to Supreme Consult’s weekly report on political and investment risks in the Philippines.