Higher oil tax encourages smuggling
Several groups have expressed concern about the proposal of the Department of Finance to impose higher excise taxes on oil and gas products, saying this could put undue burden on ordinary Filipinos and worse, encourage more smuggling.
According to Finance Secretary Sonny Dominguez, as much as P6 per liter could be levied on diesel and other products like bunker fuel, kerosene and liquefied petroleum gas which are currently exempt from excise taxes. Meanwhile, as much as P10 increase in excise taxes for the first year is being mulled for regular gasoline, aviation fuel, leaded and unleaded premium gasoline and other oil product.
http://www.philstar.com/business/2016/09/01/1619141/higher-oil-tax-encourages-smuggling
Related Posts
Dubai Customs recycles 48,000 counterfeit items in Q1 of 2020.
Dubai Customs destroyed 48,000 counterfeit items as part of its efforts to combat...
Fonterra introduces traceability technology to fake-proof its infant formula brand.
Fonterra is using traceability technology so shoppers can instantly check the...
Fake designer goods drive luxury brands to ‘step up their game
From fake Fendi bags to Rolex replicas and knock-off Nikes, the global trade of...
Zambia: Hologram Arrival to Boost Piracy Fight
ZAMBIA: The holograms which will be affixed on audio-visual products are...