| Escudero to file bill scrapping EVAT on oil products |
| Monday, 05 May 2008 | |
 An opposition senator on Monday said that he will file bill calling for the scrapping of the 12 percent value added tax (EVAT) imposed on petroleum products.Escudero made the statement during his visit at the Land Transportation Franchising and Regulatory Board (LTFRB) headquarters in East Avenue, Quezon City where he was the flag-raising ceremony guest. The bill, he said, is aimed at lowering fuel prices and cushioning the effect of continuous increase in the prices of oil products. An official of the Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide (Piston) said the suspension of 12 percent VAT on oil products would mean an automatic rollback of P4 pesos per liter to diesel and gasoline prices. George San Mateo, Piston secretary general, said in a statement that scrapping the EVAT would translate to some P120 daily savings on fuel costs for a public utility jeepney driver. Piston is planning a nationwide transport strike this month to press the suspension of the 12 percent VAT on oil products as well as the immediate repeal of the Oil Deregulation Law which they claim is the culprit behind the fuel price increases. |
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