Finance Department Pushes for Higher Excise Tax for Vehicles

The Department of Finance wants to curtail the number of vehicles being sold in the country to address the worsening traffic problem. It is spearheading the government’s move to substantially raise the excise tax in automobiles as part of the tax reform agenda. Last year, new vehicles sold in the country reached 452,751 units. The planned excise tax hike, however, has received opposition from the local automotive industry, with some…

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