Europe-PH News

ECCP urges Philippines to review proposed items on tax reform bill

August 31, 2017

ECCP Online

Europe-PH News

The European Chamber of Commerce of the Philippines (ECCP) on Thursday called on the government to review the proposed excise taxes under the tax reform program.

"There are some parts, especially when it comes to the so-called sugar tax as well as the automotive excise tax, we as representatives of European-Philippine business community feel that the government might consider to look at again and find alternative measures," ECCP President Guenter Taus said during the Food and Beverage For All forum in Parañaque City.

The House of Representatives approved last May House Bill 5636 or the Tax Reform for Acceleration and Inclusion Act (TRAIN), which embodies the first package of tax reforms proposed by the Duterte administration.

The bill seeks to impose a P10 excise tax per liter of sugar-sweetened beverage, which the government is selling as "health measure."

The bill is now being scrutinized by the Senate.

"To be more specific, we are actually concerned that these proposed measures may not be the best solutions to address issues such as obesity and other health-related concerns, among others," Taus said.

"The planned excise tax will not only have an impact on low-income consumers who widely purchase those beverages but also the different beverage stakeholders," he added.


Source: www.msn.com


  • Europe-PH News

  • April 12, 2024

    Digitalization initiatives to drive financial services and employment opportunities in the PH

    Makati City, Philippines – The release of latest ... Read More

  • April 05, 2024

    Unleash Hell in Makati: The Ultimate MMA Festival Showdown at Kombat Sports Kalayaan!

    Get ready to witness the ultimate showdown as Kombat Spo... Read More

  • March 18, 2024

    Milestone Achieved: ECCP Celebrates Restart of EU-Philippines FTA Negotiations

    Manila, Philippines – The European Chamber of Commerce of the Phil... Read More