Sugar planters across the country are alarmed by the proposed tax on beverages containing sugar and other sweeteners.
House Bill 3365 seeks to impose a P10/liter tax on beverages that contain sugar or other sweeteners, with provision for increase by 4% each year starting January 1, 2017.
“Our planters are already burdened by value-added tax and creditable withholding tax. Now they want to impose additional burden on us with this so-called soft drink tax. We cannot absorb this proposed tax which is unfair,” said Enrique D. Rojas, President of the National Federation of Sugarcane Planters, Inc. (NFSP).