{"id":6504,"date":"2016-06-29T10:00:00","date_gmt":"2016-06-29T02:00:00","guid":{"rendered":"http:\/\/primer.com.ph\/blog\/?p=6504"},"modified":"2016-06-29T18:03:40","modified_gmt":"2016-06-29T10:03:40","slug":"ph-senate-vat-increase-on-unhealthy-foods-might-be-implemented","status":"publish","type":"post","link":"https:\/\/primer.com.ph\/blog\/2016\/06\/29\/ph-senate-vat-increase-on-unhealthy-foods-might-be-implemented\/","title":{"rendered":"PH Senate: VAT increase on unhealthy foods might be implemented"},"content":{"rendered":"<p><span style=\"font-size: 12pt\">\u201cWe are open to that, we are willing to listen. That is the essence of taxation and democracy,\u201d Senate President Franklin Drilon told ABS-CBN News Channel.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6505\" src=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/06\/vat1.jpg\" alt=\"vat1\" width=\"800\" height=\"400\" \/><\/p>\n<p style=\"text-align: center\"><em>(Photo credit: <a href=\"http:\/\/www.nzgba.taxbackinternational.com\/our-resources\/blog\/?show=187\" target=\"_blank\">nzgba.taxbackinternational.com<\/a>)<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt\">The Senate stated that they might consider the 12% increase in Value Added Tax (VAT) and execute a tax on \u201cobesity-and disease- causing\u201d food, like junk food, if demanded by the incoming administration of President-elect Rodrigo Duterte.<br \/>\n<\/span><\/p>\n<p><span style=\"font-size: 12pt\">According to incoming budget secretary Benjamin Diokno, he discussed with Duterte\u2019s finance secretary-designate Carlos Dominguez on Duterte&#8217;s plan to increase the VAT up to a maximum of 15%. He also said that the timing of the VAT adjustment could be two years into the Duterte administration after income tax and a higher VAT.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">Drilon also stated that the Duterte administration\u2019s collection performance should be equal to Bureau of Internal Revenue (BIR) Commissioner&#8217;s, which has doubled revenue collections in five years since 2012. \u201cCertainly, they cannot collect less. Revenues are the lifeblood of the nation,\u201d said Drilon.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">\u00a0According to outgoing President Benigno Aquino III, the highest revenue collection on record was during the previous administration at P778.6 billion on 2008.<\/span><\/p>\n<p><span style=\"font-size: 12pt\">\u201cWe needed only five years to match, surpass, and almost double our predecessor\u2019s record high,\u201d he said.<\/span><\/p>\n<p><span style=\"font-size: 12pt\"><em>\u00a0<\/em><\/span><\/p>\n<p><em>Source: <\/em><em><a href=\"http:\/\/www.philstar.com\/business\/2016\/06\/15\/1592985\/senate-open-higher-vat-junk-food-tax\" target=\"_blank\">Philippine Star<\/a><\/em><span style=\"font-size: 12pt\"><em><br \/>\n<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cWe are open to that, we are willing to listen. That is the essence of taxation and democracy,\u201d Senate President Franklin Drilon told ABS-CBN News Channel. &nbsp; (Photo credit: nzgba.taxbackinternational.com) &nbsp; The Senate stated that they might consider the 12% increase in Value Added Tax (VAT) and execute a tax on \u201cobesity-and disease- causing\u201d food, like junk food, if demanded by the incoming administration of President-elect Rodrigo Duterte. According to incoming budget secretary Benjamin Diokno, he discussed with Duterte\u2019s finance secretary-designate Carlos Dominguez on Duterte&#8217;s plan to increase the VAT up to a maximum of 15%. He also said that the timing of the VAT adjustment could be two years [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/06\/vat1-e1467194203257.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/6504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=6504"}],"version-history":[{"count":2,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/6504\/revisions"}],"predecessor-version":[{"id":6507,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/6504\/revisions\/6507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/6505"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=6504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=6504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=6504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}