Philippines: Economic View on Sin Tax

I. Introduction There is no(prenominal) much(prenominal) commercialise that exists without some assert of g all overnment control. Usually this control extends to ensuring that no individual mellisonant line or corporation gets an unfair advantage over their rivalry and promoting economic equality, alone the fact remains that the judicature controls our frugality. This is commonly done finished various laws and bills. An example would be the anti-trust laws of our confess government, which are supposed to prevent monopolies and increase the capability of our economy. adept much(prenominal) tool through which the government controls the economy is the blunder value. The sin tax is a tax commonly levied on goods whose use is generally frowned upon by the society. These goods commonly let in baccy and alcohol, such as in the case of the Philippines, but apprize be extended to junk food, coffee, fat foods, and service such as prostitu tion and gambling. This would affect the economy through picture and demand. A higher tax would increase the prices of the products it is levied upon, and the stand in prices would in turn reduce demand for the product. The get of this reputation is to determine exactly how sin tax in the Philippines would win this effect, and whether its current manner of implementation is effective or not. II. commentary of Terms 1.

Sin Tax Sin tax is tax levied on goods and services that the general society deems undesirable. In the Philippines, it is also known as the Republic Act no. 9334 which is an act aiming to in crease the itch tax rates compel on alcoho! l and tobacco plant products but may also include candies, soft drinks, sporting foods, coffee, and services such as prostitution and gambling. 2. restrictive Laws Sumptuary laws are laws that movement to regulate habits of consumption. These laws are made for restraining lavishness or looseness and are generally ineffective in most places since it limits the market for imported expensive goods. 3. Elasticity Elasticity is the monetary amount of...If you want to get a full essay, order it on our website: BestEssayCheap.com

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