Foreign business chambers are asking for a rethink on the proposed junk food and sugar-sweetened beverage taxes to avoid escalating inflation and discriminating against certain businesses. | ManilaBulletin
In a statement, the members of the Joint Foreign Chambers of the Philippines said that while they recognized the need for government to boost revenues and support initiatives to improve the health and well-being of Filipinos, they also urged for careful reassessment of any additional tax measures that will be inflationary for Filipino consumers and discriminatory to certain businesses.
According to the foreign business groups, the proposal would also affect micro and small enterprises that rely on selling these products as a source of income. Instead, the JFC recommended that the impact on consumption and health of the existing SSB tax imposed under Republic Act 10963, otherwise known as the TRAIN Law, be fully studied and presented before any additional taxes are imposed.
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