date:Aug 20, 2014
A GROUP of beverage manufacturers vehemently opposed a proposed measure which seeks to impose an additional levy on carbonated and sweetened drink products, saying it would negatively impact the industry.
Members of the Beverage Industry Association of the Philippines (BIAP) denounced House Bill (HB) 3365, which seeks to amend the Tax Code by imposing a 10% ad valorem tax on carbonated drinks, on top of the regular 12% value-added tax (VAT) on the sale of goods.
We as an industry view it as an