Exporters support fuel VAT suspension to ease costs
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The Philippine Exporters Confederation supports suspending value-added tax on fuel to ease costs for businesses and consumers. The proposed measure could reduce diesel and gasoline prices and help moderate inflation.
The Philippine Exporters Confederation Inc. (PHILEXPORT) supports a proposed suspension of value-added tax (VAT) on fuel to ease costs. High fuel prices drive up production, transport, and logistics costs, weakening Philippine exports' competitiveness. Suspending VAT on fuel could reduce diesel prices by P6 per liter and gasoline by P10 per liter. This measure is expected to moderate inflation to between 3.6% and 4.2%. PHILEXPORT president Sergio Ortiz-Luis Jr. urged policymakers to act swiftly on the proposal to support fiscal sustainability and economic resilience. The group believes that targeted relief measures are critical to safeguarding economic momentum and protecting consumers from price shocks.
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