Filipinos is adjusting to higher sugar tax way faster than other nationalities — Pepsi
Giant beverage firm Pepsi-Cola Products Philippines Inc. (PCPPI) is hoping to book higher sales volume this year, saying that Filipinos may have already adjusted to higher taxes imposed on sugar sweetened beverages (SSBs).
Last year, PCPPI saw its sales volume declining by 20 percent due to the higher taxes on SSBs, which forms part of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Lope Manuel Jr., vice president for legal, government and corporate affairs at PCPPI, said in a Philippine Star report that the Philippines is expected to recover much faster than other countries where sugar taxes were likewise imposed.
“You look at other countries like Mexico, it took them more than five years to recover from the effect of sugar tax,” Manuel said in the report.
“In the Philippines, the impact was felt last year. This year, the numbers are quite promising. So, we’re looking at a recovery period much shorter than the other countries that impose sugar tax,” he added.