Pet owners in Mexico are reportedly protesting after the country's Finance Ministry proposed tax changes that would include a 16 percent sales tax on petfood. The government's tax reform plan opted out of applying the sales tax to food, instead proposing the petfood tax.
Owners argue that the tax increase will lead to increasing malnutrition in pets as well as an increase in the number of abandoned animals. Euromonitor estimates nearly 14 million out of 27 million cats and dogs in Mexico are homeless, which opponents to the tax reform plan say will only increase.
Mexico's lower house approved the deal and the Senate must approve it by the end of October.
While petfood shoppers continue to show strong brand loyalty, pet products have not been immune to the store brand swing
Read more of Dr. Mukund Parthasarathy's insights on the changing petfood retail market and how it affects petfood manufacturers large and small
As an industry, are we missing a huge opportunity to take advantage of another aspect of the human-pet bond?
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