A party-list representative on Sunday said the government should instead impose a tax on the “relatively unregulated” and multibillion-peso cosmetics industry instead on fuel products that would affect the day-to-day lives of all Filipinos.
“Tax revenues from the beauty industry, if properly collected has the capability of surpassing even the sin taxes collected from tobacco and alcohol,” Ako Bicol Rep. Rodel Batocabe said in a statement.
Batocabe urged the Department of Finance to “reconsider” the proposed excise tax on fuel products since this would ultimately affect the cost of transportation, goods, and services that are considered necessities by ordinary Filipinos, even the marginalized sector.
He argued that beauty products and services were patronized by those who have the capacity to spend.
The lawmaker said it would be a “more reasonable taxation” if the government wants funds for infrastructure projects.
P200-billion industry
Batocabe pointed out the cosmetics industry’s steady rise in revenues because of increased demand from “both male and female consumers with the developing mindset that beauty and cosmetic products are now a necessity rather than a luxury, which is mostly credited to aggressive marketing campaigns in various platforms.”
He said the Philippine cosmetics industry had an estimated worth of P200 billion.