New Tax on Sugary Drinks

Despite the rejection of the business sector, a law was approved in Panama that establishes an 8% tax on imported and domestically produced sugared beverages.

Tuesday, February 12, 2019

The National Assembly reported that it approved, in the third debate, Law 570, which establishes a tax of 8% for domestically produced and imported sugary beverages and 10% for syrups and concentrates.

See "Non-Alcoholic Beverages: Imports up to the First Semester"

Anel Flores, director of Alanje's sugar mill, said to that "...this is a measure that 'is not really going to contribute to the reduction of obesity and diabetes'. The solution is not to satanize sugar as the cause of obesity and diabetes, it's very overstated."

Also see "Bottled water: Imports up to June 2018"

Flores added that "... the bill could affect a sugar industry that directly and indirectly employs 25,000 individuals, as well as the different producers of juices and soft drinks." That will make the product more expensive, affecting the consumer final, will bring reduction of personnel in all those plants', I also recommend to President Juan Carlos Varela veto the bill, considering that it is not appropriate, given the current economic situation, adopt new taxes and taxes that will attempt against 'the most vulnerable sector, which is that of rural and agricultural employment in the country'."

Read full article (In Spanish).

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