Bill proposing higher road user’s taxes approved by House committee topgearph
One day after the rationalization of the Motor Vehicle User’s Charge was mentioned in passing during President Ferdinand Marcos Jr.’s second State of the Nation Address , the House Committee on Ways and Means approved a bill proposing the increase of these charges.
If enacted, HB 376 will raise around P274.45 billion over the next five years. Of this total, 45% will be earmarked for the PUV modernization program and 5% will be allocated to road crash prevention programs. ADVERTISEMENT - CONTINUE READING BELOW ↓ The Department of Finance projects minimal impact of P0.07 to P0.42 on public transport fares should the measure be enacted, adding that the “proposal would also result to minimal impact on inflation at 0.068 percentage points in 2024.”
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