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Now Reading: MORE FOR ALCOHOL | House committee approves bill raising taxes on liquor
MORE FOR ALCOHOL | House committee approves bill raising taxes on liquor
August 13, 2019 , 08:31 PM

(AUGUST 13, 2019) – The House Committee on Ways and Means has approved on Tuesday a bill seeking higher excise taxes on alcohol products.

Members of the committee voted to raise the tax by P5.00 per proof liter starting in year 2022 and 7 percent more 2023 onwards.

These reflect the 22-percent ad valorem tax on the retail price and the specific tax of P30.00 per liter.

If signed into law, consumers will pay more per proof liter at P2.10 for still and sparkling wines, P4.10 for drinks with alcohol content of 14 percent and above, and P2.60 for fermented liquor.

Albay Representative Joey Salceda proposed House Bill 1026 to help fund the Universal Health Care Law and other social services programs of the government.

The Department of Finance expects the higher excise taxes on liquor to generate P49.9 billion in government revenues in the next two years.

The bill was earlier approved by the House in the 17th Congress, but it was rejected by the Senate.

With the bill’s passage on the committee level, the plenary debates have been opened.

The bill’s final version will be submitted to President Rodrigo Duterte for his signature. (Kathryn Jose/JMF)

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