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Sep 1, 2016
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In a move that aims to hit two birds with one stone, the Department of Finance is planning on taxing the purchase of new vehicles to discourage private car ownership and instead promote the use of public transportation systems.

Department of Finance (DOF) Sec. Carlos Dominguez said this will curb traffic in line with the Duterte administration's plans to address the traffic mess, GMA News reported. "For instance, how many cars are we adding every year and it's not helping the traffic. So maybe we should discourage it—buying cars—so we can invest more in rapid transit," he said. Dominguez also said doing so will provide additional government income to replace the revenue lost from their other plan of reducing income tax.

Earlier, the DOF proposed to tax junk food and soft drinks to allow the public to make healthier food choices, the Inquirer reported.

The DOF is expected to submit its comprehensive tax reform program involving the proposed P3.35 trillion budget for 2017 to Congress by September.

 

This story originally appeared on Spot.ph.
*Minor edits have been made by the FHM.com.ph editors.

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