sin tax

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sin tax

A tax on items considered harmful and non-essential, such as cigarettes and alcohol. Primarily heard in US. I hope you're prepared to pay a sin tax on those cigarettes.
See also: sin, tax
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.
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References in periodicals archive ?
Despite supporters of sin taxes claiming that higher prices encourage users to "improve" their behaviour, many people continue to smoke and drink, and those that do pay their way when it comes to funding public services.
Sin taxes have the potential to generate substantial revenue.
This isn't the first time lawmakers have turned to sin taxes during hard times to raise money.
Dominguez and Health Secretary Francisco Duque III in a joint statementsaid that raising the taxes would "close a cumulative funding gap estimated at around P426 billion over the next five years for the full and proper implementation of the Universal Health Careprogram." READ:DOH, DOF make final push for higher sin taxes Duterte signed UHC program into law last February.
The President, however, lamented that there has been no marked improvement in the reduction of smoking among Filipinos despite the implementation of higher sin taxes.
Sin taxes represent the only substantial tax increase required by the plan, but analysts note that these taxes will have to be enacted as early as January 1994 to keep the plan on track.
For 2018, the DOF expects sin taxes to amount to P203.59 billion, up by nine percent from P186.96 billion in the previous year.
Practically speaking, many states are finding that "sin taxes" are drying up as a source of revenue.
NEDA backs further hike in 'sin taxes' !-- -- Czeriza Valencia (The Philippine Star) - May 23, 2019 - 12:00am MANILA, Philippines The National Economic and Development Authority (NEDA) supports the proposal to further increase the excise tax imposed on tobacco and alcohol products to fund the full implementation of the Universal Health Care (UHC) program.
'The revenues gathered from sin taxes provide the much-needed financing to realize our health reforms.
Meanwhile, "sin taxes" on tobacco and alcoholic beverages rose further this year and contributed greatly to pushing up the overall pace of inflation.
'We discussed only sin taxes, particularly tobacco tax.
She added that another funding source UHC supporters are eyeing is the proposed increase in sin taxes. Health Secretary Francisco Duque III has different figures on the program's funding requirements.
For the first half of this year, a total of P53.446 billion was already accumulated out of sin taxes surpassing the target of P48.446 billion.
'I think sin taxes are good sources of revenues for the funding requirement of universal health care,' Pernia said.