The Department of Finance (DOF) is opposing a bill at the Senate that aims to make fuel cheaper by removing the value added tax (VAT) on petroleum products. Senator Aquilino "Kiko" Pimentel filed early this month Senate Bill No. 2163, which DOF noted would essentially be a "tax break" for those who have cars. The proposed measure is meant to cushion the impact of the second hike in fuel excise tax that started January, according to Pimentel in a statement. The latest fuel excise tax increase was based on the Duterte administration's Tax Reform for Acceleration and Inclusion (TRAIN) Act. DOF Undersecretary Karl Chua, however, said Pimentel's proposal would only benefit the rich. ...
Keep on reading: DOF opposes move to remove VAT from fuel
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