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Old inventory free from sugary drinks tax, DTI says

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<figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/AwOnDJW8_xA?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>MANILA - Old inventory of sugar-sweetened drinks should not be sold with excise taxes that took effect at the start of the year, Trade Secretary Ramon Lopez said Wednesday.</p><p>Lopez said the trade department sought the help of softdrink manufacturers to distinguish old inventory from new ones that will be subject to the new duties -- P6 per liter on drinks that use caloric and non-caloric sweeteners and P12 per liter on those that use high fructose corn syrup.</p><p>&quot;May transition team po tayo that will make sure na iyung existing inventory will be priced accordingly, iyung succeeding inventory na papatungan ng excise tax ang magkakaroon ng adjustment,&quot; Lopez told DZMM. </p><p>(We have transition teams that will make sure existing inventory will be priced accordingly, excise tax will be imposed on succeeding inventory, which will be subject to price adjustment.)</p><p>&quot;Systematize natin para mabantayan mabuti ang presyo, pero down the road we all know that we will experience the impact noong mga pag adjust ng presyo,&quot; he added.</p><p>(We will systematize it to guard prices better, but down the road, we all know we will experience the impact of price adjustments.)</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/12/20/17/train-explained-how-the-sugar-tax-will-impact-consumers">TRAIN explained: How the sugar tax will impact consumers</a></li>	<li><a href="http://news.abs-cbn.com/pinoytaxreformcalculator">Pinoy Tax Reform Calculator</a></li></ul><p>The government raised taxes on sugar-sweetened drinks, fuel and cars from Jan. 1 to offset a reduction in income tax rates under the first package of President Rodrigo Duterte&#x27;s tax reform program.</p>

<p>Old inventory of sugar-sweetened drinks should not be sold with excise taxes that took effect at the start of the year, Trade Secretary Ramon Lopez said Wednesday.</p>

Old inventory of sugar-sweetened drinks should not be sold with excise taxes that took effect at the start of the year, Trade Secretary Ramon Lopez said Wednesday.