A Senate bill calling for higher excise taxes on alcohol products could generate P237 billion in additional revenues over a five-year period, the Finance department said.

In a statement, Finance Undersecretary Karl Kendrick Chua estimated that Senate Bill (SB) 2197 would raise around P32.3 billion in the first year of its implementation, P40 billion in 2020, P47.4 billion in 2021, P54.6 billion in 2022 and P62.4 billion in 2023.