AKO BICOL on Excise Tax and other Tax Reform Measures

AKO BICOL Party List Representative and Deputy House Minority Leader Alfredo Garbin, Jr. joined the Media Forum on Thursday, January 19, at Serye Cafe Filipino, Quezon Memorial Circle, Quezon City. The forum focused on the pressing social issues today, especially on the proposed tax reform measures in the House of Representatives.

Rep. Garbin said “On additional tax imposition on petroleum products, we have to follow the principle of vertical equity criterion which means that those who have higher income should have higher tax burden, especially with the proposed excise tax which will affect mostly the ordinary people, the riding public in particular, since the burden on the excise tax will be charged and passed on to the consumers.” “A portion of the incremental revenue for petroleum excise tax will be allocated to fund highly targeted subsidy programs and such will be provided to the vulnerable and marginalized to mitigate the initial effect brought by the increase in excise tax, thus, achieving inclusive growth”, he added.