MANILA - The House of Representatives on Tuesday approved on third and final reading the proposed amendments to the sin tax law.
A total of 176 lawmakers voted in favor of House Bill No. 4144, which seeks to amend the Sin Tax Reform Act by imposing a higher two-tiered tax rate on tobacco by January 2017.
Thirty congressmen opposed while three others abstained.
Under the bill, authored by ABS party-list Rep. Eugene Michael de Vera, tax rates for cigarettes for the lower tier would increase to P32 per pack and the higher tier to P36 per pack.
Currently, cigarettes with a net retail price of P11.50 per pack and below are taxed P25 per pack while cigarettes sold higher than P11.50 are taxed P29 per pack.
Government is expected to raise additional revenues of P14 billion if the bill is passed into law. -- Report from Robert Mano, dzMM