Business sector “near drowning” due to excise tax Print
Friday, 13 July 2018 12:06

By RG antonet go

The business sector has been described as a local business leader as “near drowning” due to the government-imposed excise tax.

Pocholo Soliven, President of the Zamboanga City Chamber of Commerce and Industry Foundation, Inc. (ZCCCIFI) said that the business sector asked President Rodrigo Duterte to suspend the imposition of the excise tax on petroleum and coal during the Regional Development Council meeting held recently.

"We are barely surviving.  In fact, we are just keeping our heads above water," Pedro Rufo Soliven, ZCCCIFI president said when asked how businessmen are coping.

He explained, the movement of money in the economy is slow. "Ya keda mahina el mobida del sen na ekonomiya poreso menos el comprada y consumption."

RA 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law brought an increase in excise tax which affects petroleum products, cars, softdrink, and other sweet drinks now affecting consumers and businesses.

Soliven is urging businesses to look for ways to bring this issue out so that the government will respond to the problem the private and business community are confronting.

"Ara abla kita typhoon este so we try to survive. We believe this is temporary hopefully, things will get better," the chamber president said. (RGAAGo)