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Report: Additional Tax For Excessive Buying Of Gadgets Proposed

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According to the recent report by Tina Panganiban-Perez of GMA News, a lawmaker is planning to push for a bill that'll impose additional taxes on excessive buying of electronic gadgets. It'll include smartphones, appliances, and other gadgets.
Report: Additional Tax For Excessive Buying Of Gadgets Proposed
Screen capture from 24 Oras

PBA Party-list Rep. Mark Aeron Sambar will propose the bill to prevent people from buying too many gadgets and collect additional taxes for the government.
"We need cellphones but we don't need five or six cellphones or 10 cellphones. That's the aim of this bill, it's just to prevent people from buying too much on a certain product and at the same time generating income for the government," Sambar said.
Sambar wants to impose 5% additional tax where 4% will be for the government funds and 1% will be allocated for Electronic Waste Disposal and Management Program for old gadgets.
PBA Party-list Rep. Mark Aeron Sambar
PBA Party-list Rep. Mark Aeron Sambar

The framework for the measure is still in the works for now where they will identify and clarify what are the electronic devices that needed to be taxed and how they'll monitor the buying behavior of the consumer. Sambar stated that the TIN (Tax identification number) could be presented to the cashier in order to monitor number of gadgets purchased and will reflect on the tax payer record.
"We have to review first kasi unang-una sa lahat kailangan natin malaman ano ba yung target na income na kailangang ma-generate at kung paano nila ito ita-tax. Kung ano bang kind of tax, 'yung specifics para makita natin kung magagamit natin siya or kung is it legal?," DOF spokesperson Paola Alvarez said.
However, the Department of Finance said that they need to review this first and take a look at it properly as there are already other forms of taxes on gadgets and electronic devices. Those includes high amount of importation dues and value added tax.

What do you think of this news? Are they taxing the public to much? Share your thoughts by commenting below.

Source: Gmanetwork
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