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MANILA – Policy advocacy group Action for Economic Reforms (AER) on Tuesday urged the Senate to adopt a 4 percent increase in the excise tax rate on petroleum products starting in 2022.
“Dapat by 2022, tataas ‘yung tax rates (on petroleum products) by 4 percent every year na automatic tulad ng doon sa tobacco tsaka alcohol tax,” Jo-Ann Latuja-Diosama, AER fiscal policy team coordinator, said.
House Bill 5636, or the Tax Reform for Acceleration and Inclusion (TRAIN), seeks to raise the excise tax on gasoline to P10.00 per liter from P4.35, and impose P6.00 per liter on diesel – which currently has no excise tax.
Approved by the House of Representatives on May 31, HB 5636 is now undergoing deliberations at the Senate.
“Tingin namin dapat lagyan. ‘Yung current version ngayon ng House Bill 5636 tungkol sa tax reform, specifically sa petroleum tax, hindi siya automatically adjusted to inflation,” Diosama told GMA News Online on the sidelines of a forum on fuel excise taxes in Quezon City.
While Diosama said it would be ideal for the excise taxes to be adjusted on a yearly basis based on inflation, it would be easier to do a 4 percent annual increase.
“Ayusin na natin ngayon by introducing that 4 percent annual inflation rate,” she said, noting it will be better to adopt this now than have another set of tax reforms in the medium to long-term.
“Best talaga is sumasabay siya sa inflation rate. Okay din naman ‘yan, kasi 4 percent more or less covers inflation rate,” she said. (GMA News)
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