Mallorca, Spain: An increase in IVA (VAT) on sugar drinks could not stop its consumption rise. According to the news report published in Majorca Daily Bulletin, in Mallorca, two soft drink companies reported increase their profit.
Julián Puig, the great-grandson of the founder of Refrescos Puig in Palma, says that sales have increased by 400% over the past year, while Toni Gibert Mora at Carbonicas la Paduana in Petra says that a loyal customer base has meant that the tax change has not affected revenue.
“Our greatest asset is to differentiate our product from the competition. Many people choose us as it has a ‘local’ label,” said Gibert.
The company sold 70,000 bottles in 2020 but the number increased to 300,000 this year, said Puig.
