PRESIDENT Rodrigo Duterte approved Wednesday, March 16, the Department of Finance’s recommendation to retain the excise tax on fuel products and provide P200 per month subsidy to 12 million poor Filipino families.
“Inaprubahan ng Pangulo ang dalawang rekomendasyon ng DOF kaugnay sa pagtaas ng fuel price. Una, ang pag-retain ng fuel excise taxes na ini-impose ng Train Law dahil ang pagsuspende nito ay magre-reduce ng government revenue ng P105.9 billion na magpopondo sa mga programa ng pamahalaan. At pangalawa, ang pagbibigay ng targeted subsidies ng P200 bawat household to the bottom 50 percent of Filipino households,” Andanar said.
He said the funds for this can be sourced from additional revenue from the value added tax from fuel products. “Our recommendation is to use this extra money to subsidize the poorer sections of our society. We will have an additional P26 billion that we can distribute directly,” he said.
Source: News Formal (newsformal.com)
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