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Reaction, Daily news

 Reaction, Newspaper

Friday, Dec 21, 2012

STARTING January 1, 2013, companies creating alcohol and tobacco products will be paying out more income taxes to the federal government after Chief executive Benigno Aquino III fixed on Thurs night Republic Work 10351 or maybe the Sin Duty Reform 2012. Aquino explained the new rules aims to favour both the government and the Philippine people seeing that revenues to get generated in the measure will be used to fund health care insurance programs intended for the poor, and build and refurbish hospitals in the area. Under the new law, the federal government is expected to raise extra revenues of P33. 96 billion on the first 12 months of implementation. To breakdown, P23. some billion of the amount is expected to come from cigarettes, P6. 06 billion dollars from unadulterated spirits and P4. five billion by fermented alcoholic drinks. Aquino explained 80 percent of the expected revenue will be allotted for general health care within the National Health care insurance Program and 20 percent will probably be for the medical assistance and health development facilities plan. Aside from the increase revenues, Aquino said the modern law is additionally expected to decrease smoking and drinking of alcohol between Filipinos, especially the youth. With the increase in taxes, it is predicted that price tag prices of alcohol and cigarette products would can also increase. But Senators Ralph Recto and Ferdinand " Bongbong" Marcos Jr. said the check is expected to displace smoking cigarettes farmers and worsen smuggling. Recto also said the rise in bar taxes could trigger " significant job dislocation” in afflicted industries. A few politicians argue that even with the rise in income taxes and the anticipated hike in the prices of alcohol and tobacco items, Filipinos will still locate ways to buy. Therefore , the law is not a guarantee that the amount of Filipinos hooked to the alleged " desprovisto products” would considerably lower. But the new law features yet to consider effect. We could only observe how it costs after a year of implementation. By 2014, we will see in the event the expected revenue is attained or not really; or whether the statistics would get down. A very important factor is for sure, the Bureau of Interior Revenue provides a great job ahead – and that is, to really pursue these companies and compel those to pay the right taxes.

In the Sin Tax Bill: Mostly focused on Policy Issues

Simply by CMFR | 21 Dec 2012

PROMINENTLY IN the news in October and November this year was the " sin” tax bill (now called Republic Act No . 10351 or An Act Restructuring the Excise Tax on Alcohol and Tobacco). The extent of reporting counted on the moderate. Newspaper coverage was thorough, the reviews appearing in the front and inside webpages, while numerous columns explained the conceivable effects of the bill on the economic system, government income, and citizen health. The reports in television were either event-based or aimed at the possible impact of the bill in such organizations as tobacco farmers and workers, vendors, cancer survivors, consumers, and health promoters. The bill, which has since been signed into law simply by President Benigno Aquino 3, aims to increase excise-taxes upon cigarettes and liquor. Press coverage from the bill mainly focused on plan issues. As a health evaluate, the objective is to preserve thousands of lives, especially among the list of youth, coming from smoking-related deaths. As a revenue measure, this aims to collect billions in revenue from " sin” product consumers. Those opposed to the bill, however , looked at their implications from an economic point of view, arguing that its passage would wreck the smoking cigarettes industry. PJRR reviewed the media's coverage of the issue on and passageway of the bill from Oct 10 to November twenty-five. PJRR analyzed the insurance coverage of BusinessWorld, BusinessMirror, Malaya Business Understanding, Manila Message, Manila Regular Today, Philippine Daily Inquirer, The Daily Tribune, The Manila Times, and The Philippine Star. The coverage by simply TV news programs 24 Oras, Bandila, Newslife, Saksi, State from the Nation with Jessica Soho, and TV SET Patrol was also monitored during the same dates. Previous...

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