The Department of Finance (DOF) reported that the government's recent tax reform programs yielded significantly higher revenues last year, following the easing of strict quarantine restrictions. ManilaBulletin
Based on the data released by the DOF, the government’s total net gains from the Comprehensive Tax Reform Program of the previous administration amounted to P202.8 billion last year.
“The major gains in 2022 were seen in the imported petroleum excise tax, sweetened beverage excise tax, documentary stamp tax, and sin taxes on tobacco and alcohol. These amounted to P272.3 billion in total,” Diokno said. TRAIN 1A also introduced excise taxes on sweetened beverages and cosmetic products, as well as increased levies imposed on mining, tobacco, documentary stamp, and capital gains on traded and non-traded stocks.
CTRP’s TRAIN Package 2+ raised sin taxes on tobacco, alcohol, and e-cigarette products to fund universal health care.
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