Drilon sees consensus on sin tax bill Tuesday


Posted at Nov 20 2012 11:18 AM | Updated as of Nov 20 2012 08:31 PM

MANILA, Philippines - Senator Franklin Drilon is confident the sin tax bill reform will be approved by the upper House on Tuesday.

"I have no doubt it will be approved today because we have read already the most critical part of the excise tax, which is the rate," Drilon told ANC Mornings.

The sin tax bill was tackled by the Senate a little before 7 p.m. on Monday after tedious debates on the reproductive health bill.

But the lawmakers were able to arrive at a consensus, pegging revenues from additional sin taxes at P40 billion from the government's target of P60 billion.

"What remains to be done this afternoon is to fix the rate," Drilon stressed.

He explained the pending sin tax bill carries two to three rates slapped on cigarettes depending on their prices.

"I am sure the senators now would agree to finish first the sin tax bill today," Drilon said.

President Benigno Aquino III last week certified the sin tax bill as urgent, allowing the Senate to vote on the measure on second and final reading on the same day.

Revenues collected from additional taxes levied on alcohol and tobacco will be allocated to health services.