DOF Hikes ‘Soft Drinks’ Tax Revenue Potential
The Department of Finance (DOF) is fully supporting the proposed measure raising the levies on sugary drinks as it is seen to compensate for government’s potential revenue losses due to lower income tax rates.
Based on finance department’s estimates, the government could earn around PhP25 billion to PhP35 billion should House Bill (HB) No. 3365 or the imposing of excise tax on sugar sweetened beverages is passed into law.
Source: Manila Bulletin
