The Senate Committee Report on the Sin-Tax Bill has been labelled by its supporters as a more realistic version, especially when it comes to the assumed revenue projection (PhP 14.8 Billion). They expressed doubts on the much-hyped target of the executive agencies which pegged the collection to as much as PhP 60.0 Billion in revenues if the bill is passed in its original and unaltered form.
The only problem with the assumption of Senator Ralph Recto’s new version is that it valued everything in monetary terms when in fact, the bill was intended primarily to address health concerns before anything else, including the revenue collection. When you factor in non-monetary benefits and savings, the assumptions become more than just using financial analysis indicators. It has to consider economic benefits of not smoking.
The only problem with the assumption of Senator Ralph Recto’s new version is that it valued everything in monetary terms when in fact, the bill was intended primarily to address health concerns before anything else, including the revenue collection. When you factor in non-monetary benefits and savings, the assumptions become more than just using financial analysis indicators. It has to consider economic benefits of not smoking.