Inquirer.net·4 min read·medium
PH tobacco taxation a classic cases of Laffer Curve,
J
Jan Escosio
✦AI Summary
Economist Arthur Laffer argues that the Philippines' aggressive tobacco tax increases have reached a point of diminishing returns. He suggests that high taxes are fueling the illicit cigarette trade and causing a decline in total government revenue.
Dr. Arthur Laffer, founder and chairman of Laffer Associates, an economic research and consulting firm MANILA, Philippines - The Philippines illustrates the Laffer Curve in action, as annual increases in excise tax rates have led to declining government revenues and a rise in illicit tobacco trade, according to a renowned American economist.
economybusinesspolitics
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