Mexican lower house votes to lower tax on sugary drinks

Mexico’s lower house of Congress on Monday approved a proposal to cut taxes on some sugar-sweetened drinks despite concerns the move would hinder the fight against obesity in Latin America’s No. 2 economy. Mexicans are among the world’s biggest drinkers of sodas made by companies like Coca-Cola Co and PepsiCo Inc, and in 2013, the country became the first major market to tax high-calorie soft drinks, by 1 peso ($0.06) per liter. The 500-strong lower house voted 423 to 33 to give general approval to a package of fiscal measures that included a 50 percent cut in taxes on soft drinks with less than 5 grams of added sugar per 100 ml.

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Mexican lower house votes to lower tax on sugary drinks