House OKs bill raising taxes on alcohol products on 2nd reading


Posted at Aug 14 2019 10:37 PM

MANILA - The House of Representatives on Wednesday approved on second reading a bill seeking to increase taxes on alcohol products.

House Bill 1026, which amends sections of the National Internal Revenue Code of 1997, is a measure seeking to "increase the excise tax rates on alcohol products and the indexation rate to 10% to account for inflation and income."

The proposed measure also seeks to remove the distinction on whether fermented liquors are brewed and sold in microbreweries and pubs, or in factories.

The tax shall likewise be based on the basis on volume or per liter, and not on proof per liter. - report from RG Cruz, ABS-CBN News