Presidential Adviser for Entrepreneurship Joey Concepcion, the man behind Go Negosyo, is sounding a clarion call regarding the prospective imposition of supplementary taxes on sugar, underscoring the perilous implications this could wield on micro-, small-, and medium-sized enterprises (MSMEs).
“The prudent path demands that we proceed with utmost care, particularly in the realm of the proposed sugar tax. This measure extends its ramifications to another sector that happens to be a linchpin in our meticulously charted path to growth: the MSMEs. The proposed tax on sugar possesses the capacity to amplify the input costs for a multitude of food vendors, thus setting off a domino effect that reverberates through to consumers,” Concepcion said.
He said this proposed fiscal adjustment bears a ripple effect that could impact cherished local delicacies, often sought as pasalubong, or thoughtful tokens.
“As we strive for economic advancement, we mustn’t overlook the precarious financial equilibrium that many MSMEs navigate. These entities often dwell on the fine precipice between subsistence and expansion, encapsulating the quintessence of entrepreneurial spirit. A judicious approach is imperative, for even a slight jolt could cascade into profound disruptions,” he noted.