MANILA, Philippines — Amid the concern over rising prices attributed to the first package of the government’s tax reform program, senators are considering measures to mitigate the impact on Filipinos, including a suspension of the additional excise tax on petroleum products. Let’s not allow prices of goods and services to increase further,” Aquino said in Filipino in an interview. “In my assessment, we need one more quarter to determine if we need to suspend the excise tax or not. The TRAIN law, whose first package lowered income taxes while imposing higher levies on fuel and cigarettes, is seen as a major contributing factor to the rising inflation. During its deliberations, the TRAIN law was emphasized as an important revenue-generating measure to help fund the government’s ambitious infrastructure program.

Source: Philippine Star May 09, 2018 09:22 UTC