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Sin tax to abet smuggling, say US business groups 

Jump to full article: Business Mirror (ph), 2012-05-03
Author: Fernan Marasigan / Reporter

Intro:

Two top American business groups echoed apprehensions by some Filipino legislators that the Malacañang-backed sin-tax reform bill would abet smuggling, undermine the government’s revenue growth targets and subsequently pose serious threats to national security.

The US Chamber of Commerce and the US-Asean Business Council have asked Speaker Feliciano Belmonte Jr. to consider the supposedly counterproductive and deleterious impact of House Bill (HB) 5727 that seeks to impose 1,000-percent to 1,500-percent tax increase on alcohol and tobacco products.

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