| Table C.2 | |||||||||
| LIST OF NEW MEASURES, 2002 | |||||||||
| PARTICULARS | 2002 | ||||||||
| LEGISLATIVE MEASURES | |||||||||
| 1. | INDEXATION OF EXCISE TAX ON SIN PRODUCTS | 4,000 | |||||||
| (CIGARETTES) | |||||||||
| This will entail indexation of tax rates of sin products | |||||||||
| (cigarettes) to inflation and adoption of specific rates | |||||||||
| to bring back the tax burden to 1997 levels | |||||||||
| 2. | INDEXATION OF EXCISE TAX ON SIN PRODUCTS | 1,000 | |||||||
| (FERMENTED LIQUOR) | |||||||||
| This will entail indexation of tax rates of sin products | |||||||||
| (fermented liquor) to inflation and adoption of specific | |||||||||
| rates to bring back the tax burden to 1997 levels | |||||||||
| 3. | MODIFIED GROSS INCOME TAXATION | 4,500 | |||||||
| This will simplify the present tax structure for | |||||||||
| corporate and individual taxpayers. In the process, | |||||||||
| it is envisioned to make our system competitive | |||||||||
| with the other countries in the region, thereby | |||||||||
| making the Philippines another investment hub | |||||||||
| in Asia | |||||||||
| TOTAL | 9,500 | ||||||||