PRESIDENT Rodrigo Duterte has signed a law increasing excise taxes on alcohol, heated tobacco and vapor products as the government aims to raise additional revenues to fund the Universal Health Care program.
This was confirmed by executive secretary Salvador Medialdea, spokesperson Salvador Panelo and Finance secretary Carlos Dominguez.
“I understand that the President has signed the bill into law,” Dominguez said.
The Senate and the House of Representatives ratified the bicameral conference committee report on the measure in December.
Certified as urgent by the president, the measure also includes a provision making the medicines for heart disease, diabetes, and cholesterol free of value-added tax starting January 2020. (GMA News)
