Monday 17 December
Dec 12, 2017 @ 18:23

Coffee, milk exempted from higher duties under new tax package


The staple drinks of the masses won’t be slapped higher taxes.

Congress has pushed through with its plan to raise taxes on sugar-sweetened drinks, which has been set at an additional P6 per liter of beverages using artificial sweeteners. Those using high fructose corn syrup will add P12 per liter for its selling price under the new tax reform package approved by the bicameral committee.

However, lawmakers realized the need to exempt coffee and milk from the mix, given that 90% of drinkers come from the masses.

All-natural fruit and vegetable juices, meal replacements, and drinks using coco sugar are likewise exempted from the additional levy.

Is that a fair trade-off?

Please follow and like us:

Tags: , , , , , , , , , , ,

Related Stories
A French prosecutor on Thursday called for the Swiss UBS bank to be fined 3.7
Artificial intelligence (AI) -- not new tax measures -- are the real threat to the
Higher taxes had little to do with the recent spikes in petroleum prices.
JG Summit Holdings Inc. of bilyonaryo John Gokongwei said its first semester net earnings plunged


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.