Economy
DOF Pushes for Tripling of Sugary Drink Tax to Curb Diseases, Boost Revenue
The Department of Finance (DOF) in the Philippines is proposing to triple taxes on sugary drinks, aiming to curb lifestyle diseases like diabetes and obesity while boosting government revenue. This move is expected to lead to increased beverage prices.
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- Philippines Eyes Tripling Sugary Drink Tax to Combat Lifestyle Diseases
The Philippine Department of Finance is proposing to triple excise taxes on sugary drinks to discourage consumption and combat lifestyle diseases like diabetes and obesity. The move also aims to generate revenue for the Universal Health Care program.