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Suspend fuel tax hike for at least 6 months, JV urges gov’t

By: - Reporter / @MAgerINQ
/ 02:36 PM January 23, 2019

MANILA, Philippines – Senator JV Ejercito  wants the government to suspend  the second  wave of fuel excise tax hike  for six months.

In a statement  on Wednesday,  Ejercito  pressed the  government  to temporarily halt the higher tax rate, which took effect this month.

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“We only have to look back at our recent experience where prices of commodities skyrocketed when the first round of increase was imposed in order to realize that this course of action is a disaster to the people’s pockets,” he said.

The senator noted that while the inflation rate has slowed down  towards the end of 2018,  financial experts had predicted an upward trend of prices of commodities, mostly consumer goods.

“I believe we can afford a six-month suspension. After that, let’s assess the situation,” Ejercito said.

“While I agree that the government will get additional funds, which will be used for infrastructure projects, what I’m saying is that we need to suspend the increase for the meantime, let’s say six months, because the prices of commodities are still high and still keep on increasing,” he further said.

Ejercito was among the  17 senators who  wrote a letter to  President  Rodrigo Duterte last October  to support a move in Congress  to suspend further increases in the excise taxes on fuel.

READ: 17 senators ask Duterte to support suspension of excise tax on fuel

The staggered increase  in  fuel excise tax was provided  for under the Tax Reform for Acceleration and Inclusion ( TRAIN) law.

Despite calls for  the suspension,  the government proceeded  with the scheduled increase starting this  January. /gsg

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TAGS: Excise Tax, Fuel, JV Ejercito, TRAIN law
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