Group backs suspension of excise tax on select fuel products
(FILE PHOTO)
MANILA, Philippines — A group representing commuters on Saturday expressed support for the suspension of the imposition of excise tax on select petroleum products amid soaring fuel prices.
The Passengers and Riders Organization Partylist said a suspension of imposed excise tax on diesel, kerosene, and liquefied petroleum products could help manage the domino effect caused by rising oil prices on basic commodities and services.
Partylist founder Allan Yap said transportation accounts for 7.81 percent of consumer expenses, while consumers pay around 22.47 percent for basic necessities.
“The relief to consumers can be easily effected through a suspension of tax on oil products since transport, housing, water, electricity and gas account for a big portion of consumer spending,” he said in a statement.
“Thus, a suspension on excise tax on select petroleum products can help ease inflation,” added Yap.
Article continues after this advertisementThe partylist likewise backed the call of some legislators to consider suspending the 12-percent value added tax on oil products.
Article continues after this advertisement“Suspending the imposition of fuel excise tax will help Filipino families recover from the hardships of the pandemic,” Yap said.
Pasahero joined calls for the on fuel products last November amid the fuel price hikes.
