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.
February 23, 2018
Slapping additional taxes on oil products makes the Tax Reform for Acceleration and Inclusion (TRAIN) law anti-poor, research group IBON said. Contrary to the argument that the new law is ‘fair’, the group said that these oil taxes should be scrapped for the benefit of millions of Filipinos who will otherwise continue to suffer the […]
January 9, 2017
Research group IBON said that the fuel excise tax being pushed by President Duterte’s economic managers will increase taxes on already burdened poor and low income wage earners. The group said that the Duterte administration should redesign the tax system to tax the richest who have the huge ability to pay more and relieve […]