‘Soft drinks tax’ eyed to offset income tax cut
MANILA – (UPDATE) The government is considering imposing taxes on soft drinks as part of a comprehensive reform program that also seeks to lower income taxes, Budget Secretary Benjamin Diokno said Thursday.
An increase in excise taxes on fuel was also under study, Diokno told ABS-CBN News, adding President Rodrigo Duterte’s economic team would present the complete tax reform package in September.
The Philippines charges a maximum 32-percent personal income tax, one of the highest in Southeast Asia. His economic managers said this could be brought down to 25 percent.
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