Cigarette and alcohol tax, price hikes greet 2022 thumbnail
Cigarette and alcohol tax, price hikes greet 2022
business.inquirer.net
Another increase in “sin” taxes discourage smoking and drinking which incur public and private health costs, raise more revenues to finance the universal health care the excise tax slapped on cigarettes rose to P55 per pack from P50 a pack last year. This meant cigarette prices will rise by at least
1 Users
0 Comments
23 Highlights
0 Notes

Top Highlights

  • Another increase in “sin” taxes
  • discourage smoking and drinking which incur public and private health costs,
  • raise more revenues to finance the universal health care
  • the excise tax slapped on cigarettes rose to P55 per pack from P50 a pack last year. This meant cigarette prices will rise by at least P5 per pack compared to last year’s. The annual rise in cigarette excise will be implemented until 2023 when the rate reaches P60 per pack
  • another “sin” tax law enacted before the COVID-19 pandemic struck

Ready to highlight and find good content?

Glasp is a social web highlighter that people can highlight and organize quotes and thoughts from the web, and access other like-minded people’s learning.