Sin Tax Law PDF

. 10354 Sin Tax Law.No.A R GE-POG101: Politics and Governance Dr. David. Fernandez GE-POG101: Politics and Governance Sin Tax Law What is the Sin Tax Law? Sin taxes are imposed on harmful products like t...

. 10354 Sin Tax Law.No.A R GE-POG101: Politics and Governance Dr. David. Fernandez GE-POG101: Politics and Governance Sin Tax Law What is the Sin Tax Law? Sin taxes are imposed on harmful products like tobacco and alcohol to reduce consumption and generate government revenue for public services (Investopedia, n.d.). GE-POG101: Politics and Governance Sin Tax Law Purpose of the SinTax Law The implementation of the Republic Act 10351, also known as the Sin Tax Law, was popularly known for ushering the Kalusugang Pangkalahatan or the Universal Healthcare. It was imposed to discourage the masses' consumption and generate revenues that may aid in boosting the government finances allocated for health-related spending (Lasco et al., 2019) GE-POG101: Politics and Governance Sin Tax Law Effects of the Sintax Law Positive Effects Increased financial assistance In 2015, of the PHP 86.97 billion budget of the DOH, 38% or PHP 33.74 billion were from Sin Tax Revenues (Lasco et al., 2019). Improvements in health service delivery Doctors are now able to admit patients and perform procedures and treatments - regardless of the patients' ability to pay (Lasco et al., 2019). GE-POG101: Politics and Governance Sin Tax Law Effects of the Sintax Law Negative Effects Mismatch between supply and demand Physicians feel the need to also be beneficiaries of the windfall of health revenue Non-medical equipments are lacking GE-POG101: Politics and Governance Sin Tax Law Updates on the Sin Tax Law The annual health budget increased six-fold to PHP309 billion in 2023 from PHP53 billion in 2013. Despite the higher taxes, cigarettes remain affordable, at PHP100 per pack and PHP5 per stick, according to the report. The specific tax was raised to P42 per proof liter in 2020, to P47 per proof liter in 2021, to P52 in 2022, to P59 in 2023, and to P66 in 2024. Under the law, the tax rate for tobacco products would be increased by 5% yearly starting Jan. 1, 2024.  Reference List: BusinessWorld. (2024, May 20). Finance department says no plan to further raise sin tax rates. *BusinessWorld*. https://www.bworldonline.com/top-stories/2024/05/20/596066/finance-department-says- no-plan-to-further-raise-sin-tax-rates/ Investopedia. (n.d.). Excise tax. Investopedia. https://www.investopedia.com/terms/e/excisetax.asp Lasco, G. D., Duya, J. E. D., Sanchez, J. H., & Dans, A. L. (2019). Before and After the Sin Tax Law: Perceived Changes in Tertiary Government Hospitals by Inpatients and Healthcare Workers. Acta Medica Philippina, 53(1). https://doi.org/10.47895/amp.v53i1.241 Tobacco Reporter. (2023, December 24). Philippine tax reform paid off: Study. *Tobacco Reporter*. https://tobaccoreporter.com/2023/12/24/philippine-tax-reform-paid-off-study/