It has been the start of the year 2018 and at the same time tax reform already in effect starting January 1 , 2018.They call this new tax reform as Tax Reform for Acceleration and Inclusion (TRAIN) . Mainly this tax focuses on the increase of fuels. They have informed the public that the increase is only effective on the new fuels and those old stocks are not included on the tax. Source here
image sourceWhat if those old stock fuel will all be consumed and that we will start to feel the effect of this tax increase. Prices on products , energy and transport are increasing too.The downside for this is that many people will suffer on the increase of this taxes. Source here
We would probably expect some possible rally from transport groups on the fuel increase , so they could get some increase on the fare too.With a fare hike going on , the value of the peso will decrease.
I am hoping the effect of this tax increase will be positive on upcoming days.I always trust the government on their decisions, their might be good effects why do they implement this.
What do you think about this tax increase? Please comment and share your reaction