Mexico proposes taxes on sugary drinks

11:57 • 11.09.13
Economy

The Mexican government proposed penalizing sugary beverages with a special tax in an effort to contain twin epidemics of obesity and Type 2 diabetes, the Wall Street Journal reported.


President Enrique Peña Nieto's tax overhaul unveiled on Sunday targets all sugar-sweetened beverages, not just soda, in a country where seven of 10 adults are either overweight or obese. An estimated 15% of people over age 20 have adult-onset diabetes.


The sugar content of carbonated soda has received heaps of attention in Mexico recently, following a public awareness campaign funded in part by Bloomberg Philanthropies, the umbrella organization for New York Mayor Michael Bloomberg's charitable activities. An initiative in the Senate called for a 20% tax on soda.


The bill proposed Sunday would apply a tax of one peso (eight cents) for each liter of sugar-sweetened beverage. Concentrates, powders, syrups, essences and flavor extracts would be taxed based on the amount of sugar-flavored beverage they would yield. The government said the tax of one peso per liter would bring in a little more than $900 million a year in revenue.


Mexico's Congress by mid-November is expected to approve the broader fiscal proposal, including the soft-drink tax, without substantial changes.


Mexico is the second-biggest consumer of soda per capita in the world, according to Euromonitor International, and the country is a major source of earnings for Coca-Cola Co and PepsiCo Inc Mexico's 16% sales tax already applies to soda sales. Sugary fruit-flavored waters and juices are also extremely popular in Mexico.
 

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