Philippine National Taxi Operators’ Association (PNTOA) president Bong Suntay said on Tuesday, January 2, that a group of taxi operators may petition a Php16USD 0.27INR 23EUR 0.26CNY 2 per kilometer fare hike due to an increased excise tax rates on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) law.
The recently approved tax reform law or Republic Act NO. 10963 stated that diesel gets an excise tax of Php2.50USD 0.04INR 4EUR 0.04CNY 0.31 per liter from zero while the the excise tax on gasoline rises to Php7USD 0.12INR 10EUR 0.11CNY 0.87 from Php4.35USD 0.07INR 6EUR 0.07CNY 0.54. It was also stated that diesel will increase up to Php6USD 0.10INR 9EUR 0.10CNY 0.74 per liter and gasoline to Php10USD 0.17INR 14EUR 0.16CNY 1 by 2020.
“Ang magiging epekto niyan is mas lalong kakaunti yung mga taxing bumabyahe. Tapos nu’n maaring tumaas yung mga insidente ng driver na nangongontrata o ayaw magsakay o namimili ng pasahero… Hindi namin tinotolerate yung maling ginagawa ng driver but we have to become realistic,” Suntay said.
Department of Energy (DOE) clarifies that the new excise tax rates will not affect old inventory and will only affect imported petroleum products from January 1, 2018 onwards.
Source: GMA News Online
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bern says:
TRAIN doesn’t make a difference, a huge salary tax cut out is pale into insignificance with huge excise tax and the upswing of the price of commodities, although basic goods are excluded, but increasing the petrol price has a ripple effect overall, and it doesn’t make a whole lot sense in the middle and lower class’ perspectives in particular those minimum wagers whose their salary are already tax exempted and those who are already making ends meet, it is far from they would have any gain from this reform.
It is an additional morass to those who are already in dire straits, and putting much burden to proletariats. We know that poverty has a knock-on effects, and it could get crimes to creep up.
Jude says:
I made an estimate on my day to day expenses with excise taxes. It may be an estimate but it made me realize that even with additional take home pay (courtesy of lower witholding tax), I will be spending more on our everyday basic needs. In short, life is better without excise tax.