INQUIRER.net: New Year’s revelers gripe after ‘sin tax’ takes effect

INQUIRER.net Philippine News for Filipinos

New Year's revelers gripe after 'sin tax' takes effect Jan 1st 2013, 21:22 MANILA, Philippines--A "sin tax" on cigarettes and alcohol—part of a government bid to boost finances—dampened the New Year spirit when it took effect throughout the country Tuesday in the midst of celebrations.   Many stores started selling tobacco and alcoholic products at inflated prices before midnight, ahead of the official implementation of the tax hikes on Jan. 1, hitting party-goers in the pocket.   The tax on cigarettes will gradually be raised to P30 per pack by 2017, roughly doubling the current price to around P52.   The duty on alcohol will also increase gradually until 2017, raising the price of a bottle of beer by P23.50, with v... Keep on reading: New Year's revelers gripe after 'sin tax' takes effect Media files: Smoking.jpg (image/jpeg)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions