Beverages and telephone services with dual effect after new tax reform

Sugary drinks, beer, cellular and fixed telephony are part of the products doubly impacted by the laws of Balance of Public Finance, in force since May, and the Solidarity Act, applied from this week and which provides the temporary rise in the value added tax ( VAT).

One effect was seen these days in some supermarkets. Some soft drinks did not arrive. The Arca company (Coke) reported that before the validity of the first law, with the increase of the tax on special consumption (ICE) for sugary drinks – it had to make commericial adjustments with their customers.

Roberto Aspiazu, president of the Association of Telephony, indicates that in that sector the tax burden is already at 29% (15% of ICE and 14% VAT) and he foresees low consumption this year.

Source: http://www.eluniverso.com/noticias/2016/06/05/nota/5616174/bebidas-telefonia-doble-efecto-impuestos