Grab to petition for fare increase on the heels of TRAIN implementation - News Summed Up

Grab to petition for fare increase on the heels of TRAIN implementation


MANILA, Philippines — Grab Philippines will file a petition before the Land Transportation Franchising Regulatory Board asking for a fare increase amid the higher excise tax for petroleum products under the Tax Reform for Acceleration and Inclusion law. Headlines ( Article MRec ), pagematch: 1, sectionmatch: 1The average fare of Grab passengers as of December last year was pegged at P150 to 170, Cu noted. Under the TRAIN, personal income tax rates will be reduced while projected revenues to be foregone from lower personal income tax will be offset by higher excise levies on petroleum and automobiles, among others. About 70 percent of revenues from the TRAIN will be used to bankroll the Duterte administration’s ambitious infrastructure drive. READ: Winners and losers: How the TRAIN law affects rich, poor Filipinos


Source: Philippine Star January 03, 2018 07:07 UTC


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