AKO Bicol Rep. Rodel Batocabe withdraws his proposed ‘vanity tax’, or imposing tax on cosmetic products.
The said move came after receiving criticism from the business sector.
Budget Secretary Benjamin Diokno also admitted that there is no need to impose additional tax, because the government still has extra funds.
Batocabe is convinced that there is no need to push for the Vanity Tax because he realized that it would be difficult to tax the things that make most people happy.
The lawmaker however said that he would rather put additional tax on cosmetic products and beauty services instead of petroleum products because this has a bigger effect on the lives of the public.