Consumption Tax tagged posts
February 21, 2017 Taxation in Australia
A new report in Australia with contributions from over 100 nutrition experts from across 53 organizations is calling for a raft of new measures aimed directly at tackling the country’s growing obesity epidemic.
One of the key proposals in the report was the introduction of targeted taxes on sugar-filled foods and beverages, including sugary drinks, a food item that has been the targeted of taxes and tax discussion around the world.
The tax was not the only suggestion in the report, and among the 46 other points raised were complimentary measures such as restricting advertising on junk food, restricting the sale of junk food at...Read More
February 16, 2017 Taxation in Australia
Implementing taxes on unhealthy foods and introducing subsidies on fruits and vegetables in Australia could save lives, billions in expenditure, while costing taxpayers and consumers virtually nothing, according to the results of a new study published on February 14th in the international Medical PLOS Medical.
The study evaluated the combined and individual effects of implementing taxes on fat, salt, sugar, and sugar-sweetened beverages, and also implementing subsidies on fresh fruits and vegetables.
Individually, a sugar tax was the most effective measure, followed by a salt tax, a saturated fat tax, and, lastly, a tax on sugary drinks...Read More
January 6, 2017 Taxation in Saudi Arabia
According to new information released by the official news of Saudi Arabia, the Saudi News Agency, the government has not yet implemented its highly punitive tax on tobacco and soft drinks.
The government plans to introduce a tax of 50 percent on the sale of all soft drinks sold in the country, with a raised tax of 100 percent if the drink is considered to be an “energy drink”.
Further, the government wants to levy a tax of 100 percent on the sale of tobacco products.
The taxes were first proposed in December 2015 during a meeting of the Gulf Cooperation Council, and were signed into law by the government of Saudi Arabia in late 2016.
December 6, 2016 Taxation in UK
On December 5th the UK government released the draft of its proposed new legislation which will see tax levied on the sale of sugary beverages.
Under the scope of the new rules, sugar-sweetened beverages will be taxed in two bands, with drinks a sugar content of more than 5 grams of sugar per 100 millilitres being taxes at a rate of GBP 0.18 per litre, while drinks with more than 8 grams of sugar per 100 millilitres being taxed at a rate of GBP 0.24 per litre.
Previously the government had estimated that the tax would raise as much as GBP 520 million per year.
It is estimated that the tax would ultimately add between GBP 0.18 and GBP 0.24 to the shelf-price of drinks sold in the UK.Read More
November 22, 2016 Taxation in UK
In a new report the UK think tank the Adam Smith Institute called for a complete reform to the legal treatment of cannabis, claiming that legalisation and regulation of the drug could create a multi-billion pound industry and significant revenues.
It is estimated that regulating the sale, consumption and production of marijuana could have a net positive effect of as much as GBP 1 billion via cost savings and new tax revenues.
Currently a total of 1 363 individuals are imprisoned in Wales and England for cannabis related offences, at a total cost of GBP 50 million to taxpayers.
The size of the commercial cannabis market in the UK is forecast to reach as much as GBP 7 billion ...Read More