32.1 C
Manila
Thursday, September 24, 2020
 
Home Business Industry seeks change in tax on sugar-sweetened beverage

Industry seeks change in tax on sugar-sweetened beverage

 

THE beverage industry intends to make a counter proposal on the tax on sugar-sweetened beverages before the Senate to impose the tax on sugar content and not per liter.

“For sugary products, I think they have to take some suggestions to the Senate. There’s minimal change, but instead of the per liter, they are proposing on sugar content,” Trade Secretary Ramon Lopez said over the weekend.

“The proposal was not anti-poor, in fact it’s progressive. Higher income, higher tax rate. Even on the reduction of the income tax rate, if you notice there’s a higher tax rate on higher income,” Lopez added.

 

He said the lower income group gets a lower tax bracket, which makes the tax reform progressive and not regressive or anti-poor.

“The sugary products, they’re telling us in their proposal that since they sell to the sari-sari store, consumed by poor people . . . it will affect the users. Normally, that’s mass taste,” Lopez said.

Last week, the House of Representatives has approved on third and final reading the Tax Reform Acceleration and Inclusion bill, the first in a series of tax reforms that seek to lower personal income taxes while raising excise taxes on vehicles and petroleum products, expanding the value-added tax base and imposing tax on sugar-sweetened beverage and lotto winnings.

The bill passed on second and third reading last Wednesday. It was certified urgent by President Rodrigo Duterte.

 

MMDA to close U-turns slots along EDSA starting on Sept 27

THE Metropolitan Manila Development Authority (MMDA) on Thursday announced the gradual closure of several U-turn slots along Epifanio Delos Santos Avenue (EDSA) starting on...

Local business groups back shift of Metro Manila to MGCQ

BUSINESS groups have expressed support for further easing of quarantine restrictions in Metro Manila to open more sectors of the economy, as the government...

7 Filipinas bound for UAE rescued from human traffickers

IMMIGRATION authorities at the Ninoy Aquino International Airport (NAIA) foiled an attempt by human trafficking syndicates to sneak out of the country seven unsuspecting...

Canada’s Trudeau promises one million jobs, warns of virus second wave

OTTAWA: Canadian Prime Minister Justin Trudeau unveiled a grand plan Wednesday to address social inequalities laid bare by the coronavirus pandemic and create one million...

Liza Soberano files complaint vs telco employee over rape remark

POPULAR actress Liza Soberano filed a formal criminal case against an employee of an internet service provider who posted a rape threat about her...
 

Weather

Today's Front Page

TRY OUR DIGITAL EDITION
FREE FOR 30 DAYS

ALREADY A SUBSCRIBER?