MANILA – A bill that imposes higher taxes on alcoholic products advanced in the House of Representatives on Wednesday.
The House Ways and Means Committee endorsed to the plenary House Bill 8618 raising excise tax rates on alcohol products to curb consumption while raising revenues for the Universal Health Care Program of the government.
The bill hopes to address the perceived inequity on the excise tax collections on alcohol and tobacco products, where collections from alcohol covers 30 percent while those from tobacco cover 70 percent of total excise tax collections.
Among its provisions is the removal of the distinction between fermented liquors brewed in microbreweries and in factories, for simpler tax administration. (ABS-CBN News/PN)
