ffiJf"ess Insight
Wednesday, May29,2OL9
SIN TAX
every year until it reaches P60 in
lanraxy 2023. Fxom lanuary 2024,
the rates vrould be adjusted annu-
ally by 5 percent.
These rates are higher than
those proposed by the House bill:
P37.50,P40.00, P42.50, and P45.00
in July 2019, July 2020, J,ny 2021,
and Jvly 2022. The yeady adjust-
ment rate from July 2023 onwatds
was set at 4 percenL
The Departrnent of Finance and
the Department of Health made
its 6nal push for the bill, in the
hope of funding the P62-bitlion
shortfall for dre implementation of
the Univesal Healthcare progtam.
Senate majority leader Juan
Miguel Zubiri held out hope that
t}te measure would soon be passed
and reconciled with the House
countefPaft.
"Matapos by tomotrow, pinaka-
latest na ng Lunes. Kung certified
siya agad-agad mati-third reading
namin (t can be done tomolroq
or Monday at tle latest. If it is cer-
ti6ed as urgent, it can be approved
on third reading imm edtatelyl' Zu-
biri told repoters at the sidelines
of the session hall.
3ut, because of the time con-
\ V4p1)y PACTari
sttaints, Zubiri said the House
should adopt the Senate version,
so the two chamben would not
have to form a bicametal confer-
ence commiftee and schedule their
respective ratification of the ensu,
ing report.
'{We don't have any mote mate-
tial time for a bicam. We re hoping
that they could just adopt the Sen-
ate version," Zubiri said.
Meanwhile, Sen. fuchard Gor-
don clarified that he was not
against increasing the excise tax,
responding to advocates who
called on him not to stall the pas-
sage of the bill.
'qVe are not against amending
the sin tax law," Gordon said in a
series of posts on Twitter, add
ing that it would be an "efficient
way to fioance the basic social
setvices."
"However, we have to establish
hrst how we car safeguard the
money raised from Sin Tax and
ensure that it g'ill :eally be put to
vrhete it is ptomised to land," he
added.
In response, sin tax lobbyist
Anthony l-eachon took Gordoa's
poiat well but said his interpel
lation "might further delay the
approval of the bill."