(Finance) – “Yesterday’s reassurance from important representatives of government forces, such as the Undersecretary of the MEF Federico Freni and the Deputy group leader of Forza Italia in the Chamber Raffaele Nevirepresenting the majority forces, to avoid new taxes, which we believe also includes Sugar taxlegacy of previous Governments and postponed several times precisely because of his ineffectiveness for healthburdensome for companies that produce in Italy and not very sustainable for SMEs”, he commented Giangiacomo Pierini, President of ASSOBIBE, Confindustria association representing the producers of soft drinks in Italy, following yesterday’s statements by the Undersecretary of the Ministry of Economy and Finance, Federico Freni, and the Deputy Group Leader of Forza Italia in the Chamber, Raffaele Nevi.
According to ASSOBIBE, the introduction of the so-called “Sugar tax” would expose consumers and businesses to increases that would put the stability of the market in difficulty, already in crisis with non-positive sales trends. Data in hand, the tax determines a significant fiscal impact on the first link in the supply chain, the producer, who would suffer a 28% increase in taxation on a liter, effectively causing a significant impact on consumers, already subjected to the disruptive effects of inflation cope with a price increase, never seen in the last 40 years. The the food and beverage sector was among the most affected (+11.2%), and among foods and drinks in second place after olive oil (+26.6%), there are soft drinks (+18.1%).
There tax damages Made in Italy. The sugar tax is a tax that goes against what businesses are asking for: a policy that supports consumption and encourages investments, in the face of the growing cost of credit and high inflation. In a sector already suffering greatly from the beginning of 2024 due to a sharp slowdown in consumption and consequent contraction in sales, the possible new tax it would especially hit small and medium-sized Italian businesseswhich represent 64% of the ASSOBIBE membership base, as well as those foreign capital companies that produce in Italy and therefore generate positive value for the territory.
It would also increase the bureaucracyintroducing a further 70 company procedures, removing liquidity (-12% of investments in Italy) and putting over 5,000 jobs at risk.
Finally, – continues ASSOBIBE – from a health point of view, this measure causes avoidable economic damage without bringing positive effects in terms of well-being for consumers. In fact, in markets where the tax is already applied, there is no direct impact on obesity and overweight. To the point that, several countries have started to eliminate it (Norway: 2000; Iceland: 2000; Denmark: 2016; Australia: 2018; Israel: 2022). The European Commission has also clarified that this tax may not have an effect on overweight and obesity. A factual specification in countries such as Italy, which ranks last in Europe for consumption of soft drinks per capita (54 litres/year).