September 21, 2017, 9:30 am
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1 Philippine Peso = 0.07179 UAE Dirham
1 Philippine Peso = 2.17553 Albanian Lek
1 Philippine Peso = 0.03474 Neth Antilles Guilder
1 Philippine Peso = 0.33168 Argentine Peso
1 Philippine Peso = 0.02434 Australian Dollar
1 Philippine Peso = 0.03495 Aruba Florin
1 Philippine Peso = 0.03909 Barbados Dollar
1 Philippine Peso = 1.57584 Bangladesh Taka
1 Philippine Peso = 0.03196 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.8794 Burundi Franc
1 Philippine Peso = 0.01955 Bermuda Dollar
1 Philippine Peso = 0.02626 Brunei Dollar
1 Philippine Peso = 0.13468 Bolivian Boliviano
1 Philippine Peso = 0.06076 Brazilian Real
1 Philippine Peso = 0.01955 Bahamian Dollar
1 Philippine Peso = 1.25293 Bhutan Ngultrum
1 Philippine Peso = 0.19814 Botswana Pula
1 Philippine Peso = 391.32134 Belarus Ruble
1 Philippine Peso = 0.03905 Belize Dollar
1 Philippine Peso = 0.02381 Canadian Dollar
1 Philippine Peso = 0.01878 Swiss Franc
1 Philippine Peso = 12.19703 Chilean Peso
1 Philippine Peso = 0.12797 Chinese Yuan
1 Philippine Peso = 56.56763 Colombian Peso
1 Philippine Peso = 11.20407 Costa Rica Colon
1 Philippine Peso = 0.01955 Cuban Peso
1 Philippine Peso = 1.80414 Cape Verde Escudo
1 Philippine Peso = 0.42683 Czech Koruna
1 Philippine Peso = 3.47146 Djibouti Franc
1 Philippine Peso = 0.12175 Danish Krone
1 Philippine Peso = 0.92005 Dominican Peso
1 Philippine Peso = 2.16386 Algerian Dinar
1 Philippine Peso = 0.25592 Estonian Kroon
1 Philippine Peso = 0.3448 Egyptian Pound
1 Philippine Peso = 0.45563 Ethiopian Birr
1 Philippine Peso = 0.01636 Euro
1 Philippine Peso = 0.0398 Fiji Dollar
1 Philippine Peso = 0.0144 Falkland Islands Pound
1 Philippine Peso = 0.01438 British Pound
1 Philippine Peso = 0.08637 Ghanaian Cedi
1 Philippine Peso = 0.87373 Gambian Dalasi
1 Philippine Peso = 174.19859 Guinea Franc
1 Philippine Peso = 0.14252 Guatemala Quetzal
1 Philippine Peso = 3.99648 Guyana Dollar
1 Philippine Peso = 0.15278 Hong Kong Dollar
1 Philippine Peso = 0.45582 Honduras Lempira
1 Philippine Peso = 0.12205 Croatian Kuna
1 Philippine Peso = 1.20133 Haiti Gourde
1 Philippine Peso = 5.05786 Hungarian Forint
1 Philippine Peso = 258.65911 Indonesian Rupiah
1 Philippine Peso = 0.06872 Israeli Shekel
1 Philippine Peso = 1.25233 Indian Rupee
1 Philippine Peso = 22.81079 Iraqi Dinar
1 Philippine Peso = 654.02658 Iran Rial
1 Philippine Peso = 2.07584 Iceland Krona
1 Philippine Peso = 2.54613 Jamaican Dollar
1 Philippine Peso = 0.01384 Jordanian Dinar
1 Philippine Peso = 2.17369 Japanese Yen
1 Philippine Peso = 2.00743 Kenyan Shilling
1 Philippine Peso = 1.34064 Kyrgyzstan Som
1 Philippine Peso = 79.2025 Cambodia Riel
1 Philippine Peso = 8.08053 Comoros Franc
1 Philippine Peso = 17.59187 North Korean Won
1 Philippine Peso = 22.0045 Korean Won
1 Philippine Peso = 0.00588 Kuwaiti Dinar
1 Philippine Peso = 0.01603 Cayman Islands Dollar
1 Philippine Peso = 6.62568 Kazakhstan Tenge
1 Philippine Peso = 161.53245 Lao Kip
1 Philippine Peso = 29.42533 Lebanese Pound
1 Philippine Peso = 2.98769 Sri Lanka Rupee
1 Philippine Peso = 2.27717 Liberian Dollar
1 Philippine Peso = 0.25762 Lesotho Loti
1 Philippine Peso = 0.05959 Lithuanian Lita
1 Philippine Peso = 0.01213 Latvian Lat
1 Philippine Peso = 0.02655 Libyan Dinar
1 Philippine Peso = 0.18266 Moroccan Dirham
1 Philippine Peso = 0.34275 Moldovan Leu
1 Philippine Peso = 1.00176 Macedonian Denar
1 Philippine Peso = 26.48554 Myanmar Kyat
1 Philippine Peso = 47.84988 Mongolian Tugrik
1 Philippine Peso = 0.15735 Macau Pataca
1 Philippine Peso = 7.05629 Mauritania Ougulya
1 Philippine Peso = 0.65031 Mauritius Rupee
1 Philippine Peso = 0.30336 Maldives Rufiyaa
1 Philippine Peso = 13.99922 Malawi Kwacha
1 Philippine Peso = 0.34428 Mexican Peso
1 Philippine Peso = 0.08176 Malaysian Ringgit
1 Philippine Peso = 0.25704 Namibian Dollar
1 Philippine Peso = 6.88038 Nigerian Naira
1 Philippine Peso = 0.5933 Nicaragua Cordoba
1 Philippine Peso = 0.15326 Norwegian Krone
1 Philippine Peso = 1.99961 Nepalese Rupee
1 Philippine Peso = 0.02667 New Zealand Dollar
1 Philippine Peso = 0.00752 Omani Rial
1 Philippine Peso = 0.01955 Panama Balboa
1 Philippine Peso = 0.06351 Peruvian Nuevo Sol
1 Philippine Peso = 0.06226 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05629 Pakistani Rupee
1 Philippine Peso = 0.06996 Polish Zloty
1 Philippine Peso = 110.44762 Paraguayan Guarani
1 Philippine Peso = 0.07117 Qatar Rial
1 Philippine Peso = 0.07527 Romanian New Leu
1 Philippine Peso = 1.12619 Russian Rouble
1 Philippine Peso = 16.18804 Rwanda Franc
1 Philippine Peso = 0.0733 Saudi Arabian Riyal
1 Philippine Peso = 0.15296 Solomon Islands Dollar
1 Philippine Peso = 0.26388 Seychelles Rupee
1 Philippine Peso = 0.13018 Sudanese Pound
1 Philippine Peso = 0.15555 Swedish Krona
1 Philippine Peso = 0.02627 Singapore Dollar
1 Philippine Peso = 0.0144 St Helena Pound
1 Philippine Peso = 0.43405 Slovak Koruna
1 Philippine Peso = 146.59891 Sierra Leone Leone
1 Philippine Peso = 10.88741 Somali Shilling
1 Philippine Peso = 400.87765 Sao Tome Dobra
1 Philippine Peso = 0.17103 El Salvador Colon
1 Philippine Peso = 10.06607 Syrian Pound
1 Philippine Peso = 0.25709 Swaziland Lilageni
1 Philippine Peso = 0.64621 Thai Baht
1 Philippine Peso = 0.04766 Tunisian Dinar
1 Philippine Peso = 0.04368 Tongan paʻanga
1 Philippine Peso = 0.06714 Turkish Lira
1 Philippine Peso = 0.13149 Trinidad Tobago Dollar
1 Philippine Peso = 0.58751 Taiwan Dollar
1 Philippine Peso = 43.66693 Tanzanian Shilling
1 Philippine Peso = 0.51173 Ukraine Hryvnia
1 Philippine Peso = 70.19156 Ugandan Shilling
1 Philippine Peso = 0.01955 United States Dollar
1 Philippine Peso = 0.56626 Uruguayan New Peso
1 Philippine Peso = 157.93589 Uzbekistan Sum
1 Philippine Peso = 0.19498 Venezuelan Bolivar
1 Philippine Peso = 444.15559 Vietnam Dong
1 Philippine Peso = 2.06353 Vanuatu Vatu
1 Philippine Peso = 0.04908 Samoa Tala
1 Philippine Peso = 10.72635 CFA Franc (BEAC)
1 Philippine Peso = 0.05278 East Caribbean Dollar
1 Philippine Peso = 10.62119 CFA Franc (BCEAO)
1 Philippine Peso = 1.9398 Pacific Franc
1 Philippine Peso = 4.88468 Yemen Riyal
1 Philippine Peso = 0.25718 South African Rand
1 Philippine Peso = 101.43667 Zambian Kwacha
1 Philippine Peso = 7.07389 Zimbabwe dollar

Sugar tax to hurt poor: FPI

The Federation of Philippine Industries (FPI) has opposed any moves to slap excise taxes on sugar-sweetened beverages (SSBs) saying this would hurt the poor.

Jesus Arranza, FPI chairman, said the insertion of this planned tax in the first package of the Comprehensive Tax Reform Program also known as the Tax Reform for Acceleration and Inclusion Act came as a surprise to the group as it was not included in the original Department of Finance proposal. SSBs shall be slapped with P10 tax per liter.

Nevertheless, the FPI, in support of one of its members, the Beverage Industry Association of the Philippines, has openly criticized the proposal saying this would be another burden to both manufacturers and consumers.

The proposal would cover sport drinks, sweetened tea, coffee drinks, energy drinks and softdrinks which Arranza described as energy boosting drinks that ordinary Filipinos can afford.

But Arranza said the bill does not cover the expensive coffee mixes in coffee shops as well as baked goods which are mostly patronized by the more affluent.

“There are already many taxes that are unduly burdening the local manufacturing industries, when the supposed needed government revenues could be raised by merely correcting the revenue leakage brought about by smuggling where the government is losing about P200 billion annually,” Arranza said.

He said while the FPI understands the noble intention of the proposal which is basically to raise funds and curb consumption of softdrinks and carbonated drinks, the proposal’s focus on SSBs runs contrary to fundamental studies on obesity which had characterized the latter as a complex phenomenon that cannot be blamed on a single factor or product.

“If the spirit of the Constitution must be followed, we must then uniformly impose a heavier tax on all commodities that contribute to the rise in obesity,” Arranza said.

FPI is also concerned about the broader impact of this policy on the economy.

“It is reasonable to expect that the proposed tax will unnecessarily add to inflationary pressure and consequently raise prices of other consumer goods,” the FPI said.

Over the long term, the group added, the tax may also dampen investor confidence.

“The P5 billion to P10 billion that is expected to be generated from the tax scarcely seems worth the damage to the country’s macroeconomy,” the group added.

When asked if the group would support a tax on sugar as raw material and not on the finished product, Arranza said “that would result to smuggling” due to the prohibitive cost which would ultimately hurt sugar farmers.

As it stands the SSB tax “will definitely reduce the consumption of sugar thereby gravely affecting the livelihood of the already struggling sugar farmers, worker, planters and the sugar millers,” he added.
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