With this enactment, sin products like distilled spirits which include whisky, brandy, rum, gin and vodka, and other similar products or mixtures will be charged with a 22% ad valorem tax on the net retail price (excluding excise tax and VAT) per proof, plus a specific tax to be imposed under the following rates beginning on the 1st of January of the following years:įor fermented liquors like beer, lager beer, ale, and porter, the excise tax will increase effective on the 1st of January of the following years: Certain medicines for common illnesses such as high cholesterol, hypertension, and diabetes are now VAT exempt subject to certain conditions. Apart from the imposition of additional excise tax on certain sin products, the law also extends the list of Value Added Tax (VAT) exempt transactions contained in the NIRC. The law also includes heated tobacco products and vapor products as additional products which will likewise be subjected to excise taxes. 11467 increased the excise taxes, generally applicable on all manufacturers and importers of sin products such as distilled spirits and other tobacco products. In the hopes of decreasing the demand for sin products, RA No.
11467, which took effect on 01 January 2020 after publication, provides for certain amendments to several sections of the National Internal Revenue Code (NIRC) of 1997, as amended.
11223, otherwise known as the Universal Health Care (UHC) Act. 11467, the law codifying the government’s efforts to protect public health, and in ensuring equitable access and affordable healthcare services to every Filipino through the additional revenues for the implementation of RA No. In response to this constitutional mandate, President Rodrigo Duterte approved and signed Republic Act (RA) No.
Even the 1987 Philippine Constitution requires the state to protect and promote the right to health of Filipinos and instill health consciousness among them. These reminders are everywhere nowadays and remain relevant for people of all ages. Our teachers, during our early years of schooling, also taught us to strive to be healthy through exercising during PE classes, to consume food based on the food pyramid and through eating more vegetables and fruits. Some people even subscribe to superstitions of their grandmothers and ancestors to achieve true health and wellness despite being, at times, contrary to evidence-based medicine and research. Growing up, we were taught by our parents that good health must be a priority. With the rise of organic food, natural ingredients and the rise of participation from the public in health and wellness activities, I still, at times, catch myself pondering on what it means to have a truly healthy lifestyle. “Health is wealth” is a famous saying for a reason.