Apart from luxury goods, higher taxes should also be imposed on non-essential goods such as alcohol, according to the Sin Tax Coalition and the Action for Economic Reforms (AER).
APART from luxury goods, higher taxes should also be imposed on non-essential goods such as alcohol, according to the Sin Tax Coalition and the Action for Economic Reforms .
These non-essential goods, based on the bill, include high-end bags, jewelry, perfume, yachts, luxury cars, and wristwatches. Increasing the tax rates of these goods to 25 or 30 percent will generate P15.5 to P18.6 billion in revenues. Alcohol, AER said, is a non-essential and harmful product that should be taxed higher. They noted that Salceda has filed a bill raising tax rates on alcopops or premixed alcoholic beverages, House Bill 5532.
The World Health Organization recently stated that there is no “safe” level of alcohol consumption. AER said HB 5532 “will broaden the scope of alcohol products that will be subjected to higher tax.”
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