PHILIPPINES: Alcohol taxes set to rise
Taxes are expected to rise from the start of next year
Tax on alcohol in the Philippines is set to increase after the country's president signed off new laws.
President Benigno Aquino III signed the Sin Tax reform bill into law today (20 December), the Government confirmed on Twitter. The law will allow a restructuring of taxes on alcohol and tobacco and is expected to raise around an extra PHP40bn (US$973m) in revenue.
A Government official described the law as a “health measure”, while President Aquino was quoted as saying that the money raised will give Filipinos “better access” to health services.
More details of the law are expected this month and the measures are due to take effect on 1 January.
Last year, the World Trade Organisation ruled that the Philippines' high import taxes on spirits from the US and European Union were illegal. The Philippines Government appealed the ruling, but it was subsequently upheld by the WTO.
- Interview - Beam Suntory's EMEA president
- Beckham, Diageo and the Allure of the VIP Pop-Up
- Interview - William Grant & Sons
- What do A-B InBev results mean for SABMiller deal?
- Interview - Beam Suntory's EMEA head - part II
- Diageo, Beckham launch VIP pop-up for Haig Club
- Diageo reveals US$400m Tequila investment
- Pinnacle Vodka, Skinnygirl roll out on ice
- Diageo completes Don Julio, Bushmills swap deal
- Beam Suntory strikes new Baltics tie-up
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Beam Suntory Inc. - Strategy and SWOT Report
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Spirits and RTDs, 2014 and the future