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13/11/2012
Report Due On Possible 'Sugar Tax' In Upcoming Budget
Soft drinks could be hit with a "sugar tax" in the upcoming Budget; in an effort to raise revenue and curb obesity.
According to the Irish Independent, a confidential report commissioned by Health Minister James Reilly recommends increasing the excise duty on fizzy drinks.
These drinks are already subject to a 23% VAT rate, and the new tax is expected to be in the form of a 10% hike in excise duty.
The report, which will be presented to the Department of Health's obesity committee today, should give Dr Reilly the evidence he needs to ask Finance Minister Michael Noonan to impose the increase in next month’s Budget.
It would push up the retail price of soft drinks, with consumers paying a third on top of the pre-tax price.
For example, a bottle of lemonade which would cost €2 without tax is already subject to VAT at 23pc, pushing up the price to €2.46.
A further 10pc in sugar tax would add another 20c to the cost at the till, meaning shoppers would end up paying €2.66 for the same bottle.
However, the report stops short of seeking the introduction of the "fat tax" that has been introduced in some other European countries.
(H)
According to the Irish Independent, a confidential report commissioned by Health Minister James Reilly recommends increasing the excise duty on fizzy drinks.
These drinks are already subject to a 23% VAT rate, and the new tax is expected to be in the form of a 10% hike in excise duty.
The report, which will be presented to the Department of Health's obesity committee today, should give Dr Reilly the evidence he needs to ask Finance Minister Michael Noonan to impose the increase in next month’s Budget.
It would push up the retail price of soft drinks, with consumers paying a third on top of the pre-tax price.
For example, a bottle of lemonade which would cost €2 without tax is already subject to VAT at 23pc, pushing up the price to €2.46.
A further 10pc in sugar tax would add another 20c to the cost at the till, meaning shoppers would end up paying €2.66 for the same bottle.
However, the report stops short of seeking the introduction of the "fat tax" that has been introduced in some other European countries.
(H)
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