oil excise tax
Tax billionaire wealth to raise revenues
October 11, 2022
Government refuses to cut oil taxes because of revenue losses. Taxing the super-rich however will help raise revenues—a wealth tax on 2,945 billionaires can contribute Php469 billion to government coffers. This is even bigger than the Php197.3-billion revenue collected from TRAIN’s oil excise tax in 2019-2020 which disproportionately burdened the poor.
Cutting oil taxes will help control inflation
October 11, 2022
Oil product prices will be lower without oil excise taxes and the 12% VAT. The latest oil price hikes increase the price of gas to as high as Php79.52/liter and of diesel to as high as Php85.79. The oil excise tax and VAT amounts to Php19.54 and Php16.29 for gas and diesel, respectively.
The scourge of price hikes
April 16, 2022
Prices keep rising, cash subsidies are limited, and real wages keep falling. The situation will not get better if the government does not acknowledge that the rampant jobs crisis and worsening poverty are huge problems that require big solutions.
Repeal TRAIN to moderate impact of fuel prices
December 13, 2018
Read more: Despite rollbacks, TRAIN makes fuel more expensive–IBON
Poorest 60% of households suffer income loss due to TRAIN
December 13, 2018
Read more: Despite rollbacks, TRAIN makes fuel more expensive–IBON
Next fuel excise tax tranche will sustain high prices
December 13, 2018
Read more: Despite rollbacks, TRAIN makes fuel more expensive–IBON
Fuel prices would be even lower if not for TRAIN
December 13, 2018
Read more: Despite rollbacks, TRAIN makes fuel more expensive–IBON
Despite rollbacks, TRAIN makes fuel more expensive–IBON
December 4, 2018
Research group IBON said that even with recent oil price rollbacks, the Duterte administration’s Tax Reform for Acceleration and Inclusion law (TRAIN) increases fuel prices with an inflationary effect burdening the poor more than the rich. IBON pointed out that rollbacks have always been proven to be temporary and stressed that TRAIN’s taxes make fuel […]
TRAIN still inflationary with lifting of fuel excise suspension
November 30, 2018
Research group IBON said that government’s continued implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) means that TRAIN’s taxes will keep raising prices next year and make inflation higher than it should be. The group said that lifting the fuel excise tax suspension shows the Duterte administration’s insincerity and insensitivity in addressing the […]
