Dr. Vicki Belo Says New Tax Reform Law Will Kill Medical Tourism
Dr. Vicki Belo said that the new tax reform law will kill the medical tourism due to the additional tax imposed to cosmetic products.
Tax Reform for Acceleration and Inclusion (TRAIN) bill has finally turned into a law after President Rodrigo Roa Duterte has signed the new tax proposal.
The TRAIN law imposes bigger taxes on rich people and lesser for working class and tax-free for the people earning a smaller income.
The new tax reform law will affect various sectors in the Philippine industry including the cosmetics and aesthetics industry.
The celebrity doctor Victoria “Vicki” Belo explained the consequences of the new tax imposed to the aesthetic industry.
The law imposes five percent tax on cosmetic procedures and body enhancements procedures but will exempt the reconstruction of facial and body effects due to birth disorders.
Belo said that imposing a tax on cosmetic procedures is still unnecessary because it will affect more young professionals who were the majority of her customers.
The 61-year-old doctor that millennials are trooping her clinics mostly for nose jobs, which she believes a necessity because of the social media.
She also believes that beautification is not only for the rich but also for everyone and imposing a tax on aesthetic services is unfair.
“Millennials saved up for a long time. They also deserve to be beautiful,” Belo said quote by Philstar.
Dr. Belo also stressed that the TRAIN law might discourage the Filipinos and even foreigners to try the cosmetic surgery in the Philippines, which will kill the medical tourism in the country.
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