Government Insists on Need to Charge Excise Tax for Fuel Products

Debate on the first tax reform package is starting to heat up, with the administration insisting that excise taxes should be imposed on fuel products on top of the 12% VAT. This would help offset the reduction in the personal income tax rate, adding that the revenues generated would help fund the administration’s infrastructure program. The package has yet to find a sponsor in Congress, however, with key members of the opposition already…

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