Philippines to remove airline taxes

Victoria
By Victoria December 14, 2011 16:40

Philippines to remove airline taxes

The Philippines Department of Finance (DOF) has told the government that it “interposes no objection” to the repeal of country’s common carrier’s tax (CCT), provided that countervailing tax revenue-raising measures can be identified.
The Philippines tax code provides for a 3% CCT and a 2.5% gross Gross Philippine Billings Tax (GPBT) on all revenues, passengers, cargoes and excess baggage leaving the Philippines.
The DOF has estimated that a repeal of the CCT would cost some PHP1.6bn (USD36.5m) annually in lost revenue, but the additional income from added tourists arriving in the country is expected to add considerably to the country’s export earnings.

Victoria
By Victoria December 14, 2011 16:40
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