The Senate has approved bills that will reduce taxes on alcoholic beverages and tobacco products, with the aim of reversing a decline in sales, and to cut taxes for individuals and businesses. The President had proposed a tax amnesty for people who had not filed taxes, a reduction on corporate taxes, and taxes on beer and cigarettes. Taxes on alcohol will be reduced by 50% and on cigarettes by 80%, with reductions to the luxury tax. In addition, taxes on income, tax on corporations, individuals and businesses owned by a single person will be reduced from 29% to 25% as part of a gradual tax reduction program. Everyone who qualifies for the tax amnesty has 45 days to take advantage of the break.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Senate has approved bills that will reduce taxes on alcoholic beverages and tobacco products, with the aim of reversing a decline in sales, and to cut taxes for individuals and businesses. The President had proposed a tax amnesty for people who had not filed taxes, a reduction on corporate taxes, and taxes on beer … <\/p>\n