After the long debate on one of the controversial bills of 2012 which is the Sin Tax Reform Bill, President Benigno “Noynoy” Aquino officially signed the said bill and now called as the Republic Act 10351 or the Sin Tax Reform 2012. It will be implemented starting January 1, 2013 and aims to generate more than P33.96 billion additional revenues for the Philippine government that will help fund health care programs on the first year of implementation.
The said Sin Tax Reform 2012 will cover the cigarettes, distilled spirits, and fermented liquors as additional source of tax. President Aquino mentioned that it might help to reduce numbers of smoking and drinking among Filipinos especially the youth because of the products that are very cheap and easy to buy. He also thanked the legislators who supported the passage of the bill and believed that it will help the government in raising more funds for its project.
Health care programs that will benefit from the Sin Tax Reform 2012 include health insurance programs for the poor and help renovate and build hospitals for the access of everyone.
