date:Aug 20, 2014
scourage investments to this country, said Mr. Tamano.
For its part, the Department of Health threw its full support for the bill, saying that the added tax could push Filipinos to veer away from unhealthy lifestyles.
Economist Cielo D. Magno added that based on global trends, a tax increase is likely to result to an 8% decline in soda consumption.
According to the proposed bill, revenues from the new tax will be used as a rehabilitation fund for victims of natural calamities.
However, Mr. Q