Lawmaker proposes imposing 10% tax on softdrinks for added funds vs. disasters
How about additional tax for anyone who proposes a not-so-useful law?
Leila Salaverria of the Philippine Daily Inquirer reports that Nueva Ecija representative Estrellita Suansing has proposed a 10% ad valorem tax on "soft drinks and carbonated beverages sold in bottles and other tight containers."
According to the report, Suansing said that the government will benefit in two ways should the measure be approved. First, taxing carbonated drinks would be a source of revenue for rehabilitation of provinces hit by natural calamities. It could deter consumers from buying the drinks. "Suansing's bill notes that the soft drink industry is currently subjected to value added tax, income tax, withholding tax, local and real property taxes, and customs duties."
There is currently no excise tax collected on the flavored and colored syrups that are needed to manufacture soft drinks.
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