“From a societal concern, I say yes to the idea of an increase in sin taxes….As you know, these sin products have a health burden on the people.”
This was the statement of President Noynoy Aquino (P-Noy). His statement was an explicit signal to legislators to pass a law that will increase sin taxes and rectify the errors in the present law governing sin taxes.
The law on sin taxes needs to be overhauled. The sin taxes are not indexed to inflation. And the excise taxes on tobacco products especially are so convoluted, resulting in further erosion of revenues.