MANILA, Philippines — The bicameral conference committee on the sin tax reform bill reconvened on Monday to further iron out conflicting provisions of the measure.
They are expected to tackle earmarking the provisions.
The panel has agreed to peg next year’s target revenue at P33.96 billion from their earlier proposed targets of P31 billion (House of Representatives) and P39 billion (Senate). There will be 70-30 burden sharing between tobacco and alcohol products, respectively.
A four percent tax rate increase will be made every two years, as agreed upon by the members of the bicameral conference committee. They have also agreed to remove the sunset provision from the bill.
Senators Franklin Drilon, Panfilo Lacson, Alan Peter Cayetano, Pia Cayetano, Sergio Osmena III, Ferdinand Marcos Jr. and Ralph Recto were present during the deliberations.
They met with the members of the House contingent: Davao City Representative Isidro Ungab, House majority leader Neptali Gonzales II, House minority leader Danilo Suarez, Iloilo Representative Janette Garin, Batanes Representative Henedina Abad, Camarines Sur (third district) Representative Luis Villafuerte, Camarines Sur (fourth district) Representative Arnulfo Fuentebella, Negros Oriental Representative Jocelyn Limkaichong and Ilocos Sur Representative Eric Singson Jr.
Protests against the measure continued Monday at the House of Representatives.