Fast Food Meals May Become More Expensive As NTRC Pushes For Junk Food Tax
The government is considering imposing an excise tax on junk food.
The National Tax Research Center (NTRC) is considering imposing an excise tax on junk food. This is for the prevention of over-consumption of these products and at the same time help to raise money for the government.
Numerous studies have shown that over-consumption of junk food can lead to health risks, that is why the NTRC is recommending an excise tax of 10 to 20 percent. According to the NTRC, this will discourage this lifestyle and is projected to generate a P36 billion (10 percent excise tax) to P73 billion (20 percent excise tax) revenue within five years.
The NTRC defines junk food as not just chips and soda. In a report by Inquirer, the excise tax on junk food also affects fast food chains that offer "burger, fries, fried chicken, hotdog, pasta and pizza, deep-fried and salty snacks, sugary desserts and sweets, and carbonated beverages or soft drinks."