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SUGAR TAX

Content For Sin Tax

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A sugary drink tax or soda tax is tax or surcharge designed to reduce consumption of drinks with added sugar. Drinks covered under a soda tax often include carbonated soft drinks, sports drinks and energy drinks.
Type II diabetes is a growing health concern in many developed and developing countries around the world, with
1.6 million deaths directly due to this disease in 2015 alone in India. A 2010 study said that consuming one to two sugary drinks like Coke a day increases your risk of developing diabetes by 26%. The purchase of sugary drinks has a significant negative externalities when over- consumption causes diseases like obesity and type 2 diabetes. A study found that for every added serving per day of sugar-sweetened beverages, each serving was associated with a 19% increased risk of developing heart disease.

Advocates such as national medical associations and the World Health Organization promote the tax on soft drinks as an example of Pigovian taxation, aimed to discourage unhealthy diets and offset the growing economic costs of obesity. Depending on the national health care system, a significant portion of these costs are paid by taxpayers or insurance rate-payers; lost productivity costs are paid to some degree by employers. But Society as a whole could be worse off if these costs are calculated to be greater than the benefit to the consumers of soda. Revenue in the Soft Drinks segment amounts to US$4,482m in 2020 in India. The market is expected to grow annually by 9.6% (CAGR 2020- 2023).
Saudi Arabia has a 50% sugar tax on soft and energy drinks .On October 2017, the United Arab Emirates introduced a 50% tax on soft drinks and a 100% tax on energy drinks, to curb unhealthy consumption of sugary drinks that can lead to diabetes. From 1 January 2020, the UAE would impose a tax on all products which contains sugar or artificial sweeteners.But India taxed only 40 percent tax on soft drinks like Coke from 1 July 2017. It should be increased 100% to reduce consumption. This regressive effect of the sugary drinks tax can be counteracted if the collected tax revenue is used to subsidize healthier foods. So It should be proposed that pure fruit juices, milk- based drinks and the smallest producers would be taxed as 5% GST.

BIBLE Says in Ecclesiastes 7:16 ‘

Why should you destroy yourself(By Consuming SoftDrinks)

#softdrinks#coke#pepsi#sugartax