Excise Tax on Automobiles: What you need to know

[dr. d]

kasi daw they're gonna eliminate income tax on the lowest wage earners

so they gotta make back lost taxes from somewhere else

they'll eliminate income tax on the lowest salary group, or they're not going to charge more than what has already been deducted from them?

[ssaloon]

kasi daw they're gonna eliminate income tax on the lowest wage earners

so they gotta make back lost taxes from somewhere else

Net up pa rin at the end of the day si gobyerno. Nilipat lang kung san hinugot yung kita.

[Verbl Kint]

they'll eliminate income tax on the lowest salary group, or they're not going to charge more than what has already been deducted from them?

The lowest salary group (minimum wage earners) don't need to pay income tax.

Is the minimum wage taxable? - The Manila Times Online

[niky]

The lowest salary group (minimum wage earners) don't need to pay income tax.

Is the minimum wage taxable? - The Manila Times Online

The reforms may potentially add to traffic, depending on the inflationary pressure on basic goods caused by the increased tax on fuels.

I'm foreseeing auto loans opening up to a larger segment of the populace thanks to the drop in taxes.

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We have a boom right now in terms of high-end vehicle sales. Next year, we might see a rise in sales of low-end vehicles.

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Well... might.

[uls]

japan in 2014 announced they're gonna raise consumption tax

ang nangyari there was a boost in spending before the tax took effect

there was a GDP boost

then later there was a contraction

consumption slowed after

ganyan din mangyayari sa atin

in anticipation of higher tax, consumption that's supposed to happen in the future is pulled to the present

[niky]

japan in 2014 announced they're gonna raise consumption tax

ang nangyari there was a boost in spending before the tax took effect

there was a GDP boost

then later there was a contraction

consumption slowed after

ganyan din mangyayari sa atin

in anticipation of higher tax, consumption that's supposed to happen in the future is pulled to the present

So much gambling on Land Cruiser futures.

30% contraction daw, according to one SUV maker.

Let's see how bad it will really get.

[Wh1stl3r]

If the goal is to collect more tax, why the exorbitant increase in the luxury segment? Wouldn't a smaller incremental increase be safer?

It's like they want the luxury segment to contract. Looks like a populist move to me.

[uls]

If the goal is to collect more tax, why the exorbitant increase in the luxury segment? Wouldn't a smaller incremental increase be safer?

It's like they want the luxury segment to contract. Looks like a populist move to me.

exactly

take from the rich give to the poor

[Wh1stl3r]

exactly

take from the rich give to the poor

But if they push through with the big increase in the upper bracket the tax collection in that segment will most likely contract. The rich will probably downsize to a lower car tax bracket and find other ways to get their luxury fix. So there will be less to give to the poor even if these politicians keep their word.

[uls]

But if they push through with the big increase in the upper bracket the tax collection in that segment will most likely contract. The rich will probably downsize to a lower car tax bracket and find other ways to get their luxury fix. So there will be less to give to the poor even if these politicians keep their word.

from another thread (May 7, 2017): https://www.tsikot.com/forums/politi.../index893.html

baka may mag comment i like quoting myself... whatever

nothing good ever comes out of populism

I remember i had a discussion with a group of friends (anti and pro du30)

They're mostly business people

I cited venezuela as an example of populism gone wrong

Populist leaders will blame businesses when there are food shortages (hoarding daw)

But it's the government's fault in the first place

In response to high inflation the govt imposes price controls

So businesses stop importing coz they'll be losing money

Which results in shortages

The govt then goes after businessmen to appease the masses

But that doesn't solve the shortage problem

I told them du30 is a populist

His populist policies (end contractualization, tax exemptions for low income earners, raising taxes elswhere, etc) could cause high inflation

So in reaction, the govt will act like any populist govt -- impose price controls

Which will cause shortages and even higher inflation (and of course widespread anger among the masses)

The govt will then go after businessmen to appease the masses

My friends just stared at me

Reality check