Sen. Regis Akitaya in his Senate Bill 8-150 if approved will mean that a can of beer could cost at least $2.
The bill proposes an import tax of $1.01 per liter for beers and $10.14 per liter for liquors. The current import tax for beers is $0. 03 per liter and $10.14 per liter a tax of $2.37 per liter on beers and $10.13 per liter.
On top of the import tax , the bill is also proposing an excise tax of $2.37 per liter on beers and $10.13 per liter on liquors.
The bill also proposed an increase in the import tax of carbonated softdrinks from $0.10 per 12 fluid ounces to $0.28 per liter.
For new vehicles, it was proposed that new vehicle parts will have an adiitonal $5 percent ad valorem, used vehicles 20 percent ad valorem plus $250 and used vehicle parts with 20 percent more ad valorem tax.
Bottled water import tax is going to be increased from 25 percent to 75 percent ad valorem.
The proposal added that canned beef and pork will be imposed with an additional 10 percent ad valorem tax.
Tobacco products meanwhile will have an additional tax of $2 per a package of cigarettes, one package of cigar and an ounce of loose tobacco.
From the money collected from these new taxes, it will fund the minimum wage. The government is the biggest employer of Palauan workers, the Health care insurance scheme will be implemented by Oct. 1
Under the health care financing law, a person becomes eligible for coverage by the health insurance benefit after two full quarters of paying into the health care system. The health insurance benefit will generally cover inpatient care at the Belau National Hospital and off-island care that is approved by the Medical Referral Committee. The coverage will be subject to a co-payment, which will be the responsibility of the covered patient. The amount of the copayment will be 20% of the cost of the medical service, but will be capped based on a sliding scale, to be determined by income.
For general medical services that cap will be from $200 to $400, and for inpatient care or medical referrals, it will be anywhere from $1,000 to $4,000.
The program will have an initial start up cost of $50,000 to provide the necessary equipment to efficiently administer the health insurance program.
