Some suppliers in Mandaluyong City public market have been discovered by the Department of Trade and Industry (DTI) on Thursday to have increased the price for a sack of sugar by up to P50.
The suppliers explained in their defense that they only increased the price on the anticipation of price change tied to the newly approved Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Teodoro Pascua, DTI Undersecretary for Consumer Protection Group clarified that the TRAIN which imposes a higher tax on sugary drinks and other sugar-related commodities, has yet to take effect on January 2018.
The DTI also said that only manufacturers hold the authority to compute for new prices and are required to coordinate with the government agency.
The price increase was discovered by DTI’s Consumer Protection Group while conducting inspections to monitor Noche Buena products this holiday season.
Aside from some sugar-sweetened beverages, the Train law which was signed by President Rodrigo Duterte on Tuesday also imposes higher taxes on mining, estate, petroleum, cosmetics, coal, etc.. Read more about this