This is bad news if you frequently use ride-hailing service Grab.
Earlier today, Grab went to the Land Transportation Franchising and Regulatory Board (LTFRB) to seek the government’s approval to increase fares to cover the effect of new duties on fuel and cars.
Grab asked for an increase of 6 – 10 percent, the app’s Country Head Brian Cu told reporters.
The first package of President Rodrigo Duterte’s tax reform took effect on Monday and raised taxes on fuel, cars, and sugar-sweetened drinks, among other things, to offset a reduction in personal income tax rates.
The first package includes a PHP2.50 (US$.05) per liter tax on diesel and an increase in duties on gasoline to PHP7 (US$.14) from PHP4.35 (US$.09) in its first year of implementation.
Grab rival Uber was not immediately available for comment.
with reports from ABS-CBN News
