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CEBU CITY, Philippines — Businesses face rising operating costs and lower net income due to the imposition of the additional P2 excise tax on oil products. Bob Gothong, chief executive officer of Gothong Southern group, admitted that…
CEBU CITY, Philippines — Another round of sin taxes would result in lower volume sales of tobacco and liquor products. Robert Go, president of Philippine Retailers Association Cebu chapter (PRA-Cebu), recalled that volume sales of the two…
Palace supportive of recommendation to proceed with second round of excise tax on oil amid drop in fuel prices; Not so fast, warns Cebu Business Club Prices of fuel have gone down in eight straight weeks. Based…
THE House of Representatives ways and means committee approved on Tuesday a bill seeking to increase the unitary excise tax on tobacco products. Panel chair and Nueva Ecija 1st District Rep. Estrellita Suansing said the panel approved…
The Senate committee on ways and means is set to conduct a study on the feasibility of raising excise taxes on tobacco products to fund the Universal Health Care (UHC), its chair Senator Sonny Angara said Tuesday.…
LOCAL business leaders in Cebu welcomed the government’s pronouncement that it will be putting on hold the additional excise tax to be levied on fuel products starting January 2019. The move, according to businessmen, will not only…
What the government should do instead is to tax the sale of cars, with rates going up the more expensive the units. Then charge them with higher road user’s fee when they register their cars. Early this…
After conducting a public hearing in Iloilo City on Friday, the Senate committee on public services chaired by Senator Grace Poe recommended the suspension of excise taxes on petroleum products. “Hihilingin natin sa Department of Finance at…
Contrary to earlier pronouncements that the government can suspend fuel excise taxes when global oil prices reach $80 a barrel, the Department of Finance clarified Wednesday that the Tax Reform for Acceleration and Inclusion (TRAIN) Act only…
WITH the dawn of the New Year, comes also exciting news from the motoring sector and not so good news from the tax collecting agency. The New Year always brings a lot of hope; Hope for change,…
Anyone who plans to buy a car should do so now while the excise tax on motor vehicles being pushed by the Duterte administration has not been imposed yet. Ivy Castro, general sales manager of Ford Philippines…
Auto industry players said the Department of Finance (DoF) was sending a wrong signal to investors with its plan to raise excise taxes on vehicles, even as the government maintained that higher prices would not necessarily deter…
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