MANILA, Philippines – KINASTIGO ng Department of Finance (DOF) ang panukalang alisin ang fuel taxes.
Para sa DoF, isa itong “ill-advised and populist measure” na lubos na makaaapekto sa mga mahihirap.
Nagbabala si Finance Secretary Benjamin E. Diokno sa “popular” subalit nakasasamang plano ng mga politiko na alisin ang value-added tax (VAT) at excise taxes sa langis, binigyang diin ang negatibong epekto na maibibigay nito sa ekonomiya.
“Proposals to suspend VAT and excise taxes on petroleum products are short-sighted, ill-advised, and have serious consequences on government finances and the economy,” ang pahayag ni Diokno.
Kapag suspendido aniya ang fuel taxes, binigyang diin ng Kalihim na ang pangunahing makikinabang dito ay ang 10% na mayayamang pamilya na gumagamit ng kalahati ng kabuuan ng langis.
“On the other hand, the bottom half of households only consume about 10 percent of the fuel,” ayon kay Diokno.
Araw ng Lunes, nakipagpulong ang Kongreso sa oil industry players para tugunan ang problema sa langis at magsaliksik ng potensiyal na solusyon gaya ng three-month suspension ng excise tax, upang mapagaan ang epekto nito sa bansa.
Gayunman, tinutulan ito ni Diokno sa katuwirang mabibigo lamang ito na magbigay ng long-term relief mula sa inflation.
Sa naging pagtataya ng DOF, ang suspensyon ay maaaring mauwi sa isang “substantial revenue loss” na P72.6 billion sa fourth quarter lamang, “with approximately P31.2 billion in foregone VAT revenue and P41.4 billion in excise taxes at stake,” ayon sa DoF.
“Any of the proposals will adversely affect our economic and fiscal recovery, our international credit ratings, and our overall debt management strategy,” ayon kay Diokno sabay sabing “If there are no spending cuts and the entire 2023 national budget is used, the government’s budget deficit compared to the size of the economy would increase from 6.1 percent to 6.4 percent.”
“This will also result into higher public debt-to-GDP [gross domestic product] ratio: from 61.4 percent to 61.7 percent,” dagdag na wika ng Kalihim.
“The estimated revenue loss for the whole year is a significant P280.5 billion, which is equivalent to 1.1 percent of the GDP, “ayon naman sa DoF.
“The forgone revenues will lead to higher budget deficit: from 5.1 percent to 6.2 percent of GDP, and higher debt to GDP ratio in 2024 from a projected 60.2 percent to 61.3 percent,” lahad ni Diokno.
Dahil sa lumalalang fiscal situation, nagbabala si Diokno sa posibilidad na maharap ang bansa sa pagbaba ng international credit rating nito.
“This will increase the risk premium for government borrowings, consequently another round of higher debt servicing,” ani Diokno.
“Private sector borrowings will [also] become costlier and have a negative impact on private investment and economic growth,” dagdag na wika nito.
Kaya ang panukala ni Diokno, karamihan sa epektibong solusyon ay magbigay ng targeted subsidies sa mga labis na maaapektuhan ng mataas na presyo ng gasolina o fuel gaya ng jeepney operators, magsasaka at mangingisda.
“We did this during the height of the oil price increase owing to Russia’s invasion of Ukraine. This targeted gained the approval of the IMF [International Monetary Fund] and other international organizations,” anito.
Winika pa ni Diokno na ang pag-alis sa fuel taxes ay nangangailangan ng legislative action, na aniya’y ” time-consuming process.”
“Once the elevated oil prices subside, it may not be easy to restore taxes on oil product. It is politically unpopular. That’s the political economy of tax legislation,” ayon kay Diokno.
“This has serious implications on fiscal sustainability,” lahad nito. Kris Jose
