WB lauds Philippine sin tax law

The implementation of the Sin Tax Law by the government has been described by a World Bank (WB) official as a “monumental success,” which should prompt the country’s Asia-Pacific neighbors to enact the same measure.

“Tobacco [and alcohol] taxation is truly a win-win policy. A win for revenues, and a win for public health. Tobacco kills 5.4 million persons worldwide every year. Unless urgent action is taken, the annual death toll can rise to more than 8 million by 2030,” said Jim Brumby, WB Poverty Reduction and Economic Management manager, in a recent workshop urging other Asian countries to adopt Republic Act (RA) 10351, or the Sin Tax Law.