(Eagle News)– The Department of Finance (DOF) is now planning to impose taxes on “fatty foods” similar to the rate of cigarettes and alcoholic beverages.
“We also plan to impose taxes on sugary and fatty foods, akin to sin taxes,” Finance Secretary Carlos Dominguez III told Senators in his presentation on Tuesday.
Junk foods and softdrinks are expected to be part of this new category.
This reform belongs to the set proposed by the DOF, including the lowering of corporate tax and widening of tax base.
The government expects to collect P2.2 trillion for the whole 2016.
