There is no holding back for the Department of Finance in the imposition of higher taxes on fatty foods as the government aims to improve tax collections in the country.
The imposition of more taxes from fatty foods such as junk foods and soft drinks are being eyed by the Department of Finance (DOF) to improve the government’s tax collection.
Finance Sec. Carlos Dominguez III told as he faced the Senate, his plan to impose higher taxes on fatty foods or unhealthy foods can be compared to the excise tax being generated by the government from cigarettes and alcoholic beverages imposed by the previous administration of former Pres. Benigno Aquino III.
This is also in line to the government’s measure to improve better health among the Filipinos.
On September, the Finance Department will push for tax reforms on lowering the corporate tax and expanding of the tax base.
DOF spokesperson Paola Alvarez said: “The idea is to have all the existing bills that want to tax high sugar and unhealthy products like junk foods and soft drinks included in the package”.
The tax policy reform program of the administration of President Rodrigo Duterte included in the proposals to impose a fatty foods tax, a carbon tax, a casino and lottery tax, mining taxes as well as taxes on luxury cars, jewelry and yachts.