Friday, October 12, 2012

Malaca?ang insists on its version of the sin tax bill | Economy | GMA ...

Given that the Palace is disappointed with the Senate?s version of the sin tax bill, Presidential Spokesperson Edwin Lacierda said Thursday that Malaca?ang will continue to push for its version of the law.

?

The Senate committee on Wednesday announced that its version of the sin tax measure will raise P15 to P20 billion a year in additional revenues for government.?

?

The revenue target is lower than the tax bill approved last June by the House of Representatives. The House?s version expects to raise P31.35 billion in its first year.?

?

The administration of President Benigno Aquino III was hoping to raise P60 billion from the sin tax measure.

?

?I can only go by the statement made by Secretary [Cesar] Purisima and Secretary [Enrique] Ona yesterday when both secretaries expressed some dismay on the Senate [Ways and Means] committee report,? Lacierda said.?

?

The administration was hoping that the measure that passed through the House would be the same as what passed through the Senate

?

?I think it will be safe to say that, certainly, the administration is pushing for our measure that would have looked at the revenues that we have, in order to fund our universal health care coverage,? said Lacierda in a briefing.

?

He added that the ball was now in Ways and Means committee chair Senator Ralph Recto?s court. ?We have already laid out the reasons why we are pushing for our sin tax measure,? explained Lacierda, ?We have already laid out that this is a health issue; that the revenues that we?re going to collect will be able to fund sufficiently our universal health care coverage.??

?

The Presidential spokesperson also took the opportunity to allay tobacco farmers? concerns should the administration?s version of the law be passed. ?We have also provided safety nets in the sin tax measure,? Lacierda said.

?

Lacierda also cited the examples of other Southeast Asian countries? sin tax legislation, saying that tobacco manufacturer revenues will not change by much. ?For instance, sa Singapore mataas pa rin po ang kanilang [tobacco manufacturers/growers] revenue. We have certain statistical experiences based on our Southeast Asian neighbors,? Lacierda said. ? DVM, GMA News

Source: http://www.gmanetwork.com/news/story/277901/economy/finance/malaca-insists-on-its-version-of-the-sin-tax-bill

etch a sketch romney sean payton saints bounty program toulouse france ny jets ny jets the situation

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.