Table C.2
LIST OF NEW MEASURES, 2003
			PARTICULARS	ESTIMATED YIELD
				(In million pesos)
A.	LEGISLATIVE MEASURES			10,000
		BUREAU OF INTERNAL INTERNAL REVENUE
		1. RECLASSIFICATION OF SIN TAXES		7,000
			>Restructuring of the excise tax on distilled spirits by having in place a
			single structure of tax rates for all distilled spirits regardless of the raw
			materials used.
			>Indexation of the tax brackets and tax rates two years thereafter by the
			amount of cumulative inflation for the two preceding years to ensure that
			the excise tax rates track the changes in price;
			>Immediate reclassification of alcohol and tobacco products based on
			their current net retail price and reclassification of said products two
			years thereafter.
		2. RATIONALIZATION OF EXCISE TAX ON AUTOMOBILES		2,500
			Expands the definition of automobile to include those with 10 or more
			seating capacity, including driver, such as passenger vans, AUVs 4x2s.
		3. RESTRUCTURING OF DOCUMENTARY STAMP TAX ON DEBT
		INSTRUMENTS		500
			>Applies a uniform rate for the primary issue of all debt instruments  at
			the rate of .25% of the  issue  price;
			>Allows  a  proportional  tax rate  for  short  term  instruments.  For
			instruments with terms of less than one year, the DST to be collected
			shall be of a proportional amount in accordance with the ratio of its
			term in number of days to 365 days;
			>No DST shall be imposed on derivatives;
			>Removes DST on secondary trading of instruments.
B.	ADMINISTRATIVE MEASURES			7,500
		BUREAU OF INTERNAL REVENUE		6,000
	BUREAU OF CUSTOMS			1,500
		1.  FORFEITABLE BONDS		250
			Forfeitable bonds are collectibles from insurance companies which
			guaranteed the payments  of  customs  duties and taxes of "tempo-
			rary importations" if these are not re-exported within the deadline
			specified in the contract.
		2. ADDITIONAL  BILLINGS  ARISING  FROM  WAREHOUSING
		AUDIT  AND  FROM  LIQUIDATION  OF  ENTRIES		450
			These additional revenues are collected after a Post-Release Audit
			undertaken to check/verify whether the  right  amount of customs
			duties  and  taxes  have  been  paid.
		3. PROCEEDS  FROM  AUCTION  SALES		400
			Importations  with   major   violations   of   the   country's Customs
			laws, rules and regulations or those abandoned and forfeited in favor
			of the government are subsequently sold in public auctions.
		4.  PROCEEDS  FROM  SETTLEMENT  AND  REDEMPTION  OF
		SEIZED CARGO		200
			There  are   importers    who   prefer    the   remedy   of  settlement/
			redemption  to get back shipments that have been seized   by  the
			BOC  for   violation of  Customs  laws.   With  the  approval  of  the
			BOC,  the   importers   are  asked  to  pay   fines/penalties  on  the
			redemption  value,  the  payment   of  which  would  not  have been
			made  if the goods  had not been seized.
		5.  COLLECTIONS  FROM  TRANSFEREES  WHO  FRAUDULENTLY
		SECURED  TAX  CREDIT  CERTIFICATES (TCCs)		200
			These yield will come from transferees who misrepresented and
			submitted spurious  documents to secure TCCs (mostly BOI-related)
			from the One Stop Shop Inter-agency Tax Credit and Duty Drawback
			Center.
	TOTAL			17,500