DoF studies impact of removing e-VAT on fuel

The Philippines Department of Finance is conducting a study on the effect of removing the expanded value-added tax (e-VAT) on fuel products. Executive Secretary Eduardo Ermita, in his weekly press briefing, said “the Secretary of the DoF is already conducting a study so we’ll know whether we should scrap e-VAT on fuel.” Finance Secretary Margarito Teves has said he does not favor the scrapping of the 12% VAT on oil products and power, citing the need for the government to collect revenues. (May 16, 2008)