Thursday, June 11, 2009

More taxes on alcoholic beverages, cigaretters and on Text messaging (SMS) CONTEMPLATED!

Collection deficit is now becoming a popular and urgent issue and government officials are now taking more steps to remedy the situation and improve Philippine economic condition.

Accordingly, the state is now reportedly contemplating to impose new taxes, if not revitalize the present tax imposition on certain articles and industries. One of which is the so called SIN taxes on alcoholic beverages, and on cigarettes as millions and millions of Filipinos are on to said items making it a great potential for tax collection improvement. Notably, the imposition of higher tax rate is premised on the state's exercise of police power to discourage the rampant use of these articles for their proven negative health effects.

Another item is the tax on short messaging service (SMS) or the commonly termed TEXT messaging. Philippines is a major contributor of messaging traffic as almost every Pinoy is equipped with these technological mobile phones and some are even maintaining a couple of these mobiles at the same time. On personal comment, admittedly, these will bring new revenues to the government, but will surely make a great impact on the average and less than average Pinoy depending on cellphones as its sole medium of communication among the family members, friends, relatives, and for other purposes.

As to date, however, no details yet on how, when, and how much will the new impositions would be.

"Taxes affect lives, care for taxes and save lives"


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