‘Premixes cost gov’t P1.7B in lost revenue’

Negrenses set to launch a boycott against Coca-Cola products at a rally at the Bacolod public plaza tomorrow afternoon warned that they will bring their protests nationwide if the firm fails to heed their demand to buy local sugar, and pay tariff on massive amounts of sugar it brought into the country, allegedly in the guise of premixes.

Importation of sugar in the guise of premixes at zero tariff since the time of President Gloria Macapagal Arroyo has caused the government P1.7 billion in lost revenues, Guillermo Barreta Jr., Negros Labor Center coordinator and a Sugar Watch convenor, claimed.

A 38 percent tariff is slapped on imported sugar entering the country, while Coca-Cola gets away with zero tariff because it labels its imports as premixes, he said.

Sugar Regulatory Administration laboratory tests show that Coca-Cola premixes are 99.5 percent sugar.

Read more at Visayan Daily Star

 

Con Yap