Grab’s current fares to stay until March —LTFRB

Current fares of Grab Philippines are unlikely to increase at least until March, even if the tax reform law is now in place, the Land Transportation Franchising and Regulatory Board (LTFRB) said Tuesday.

“Mukhang hindi ‘yan makukuha ngayong month na ‘to kasi we have to clear, we have to set it for reading,” LTFRB board member Aileen Lizada told reporters in an ambush interview in Makati City.

Grab has filed a petition before the LTFRB to increase fare rates, citing higher excise tax on petroleum products under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Grab sought a fare rate increase of 5 percent.

Lizada said the earliest the LTFRB can come up with a decision would be in March as the board will have to consult stakeholders as well as the National Economic and Development Authority (NEDA).

“We would like to seek the assistance of NEDA in all of these. Ano ba ang epekto ng excise tax on fuel the with the corresponding ng pag-increase ng take-home pay,” she said.

RA 10963 set a higher excise tax on fuel while reducing the personal income tax.

“On our end, we would like to invite NEDA kasi sinasabi nila tataas ’yung take-home pay natin pero may mga taxes naman sa fuel. So, what is the balance here now?” Lizada noted.

“We will do our best to find out that balance para ho meron tayong acceptable formula. We need to be responsible as well,” she said. — VDS, GMA News