Review of Excise Taxation Endorsed; on Motor Vehicles

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The Board of Investments (BOI) is favorably endorsing the review of excise taxation on motor vehicles with the aim of simplifying taxation on this sector, which is known to be a major source of government revenues but whose present tax structure prevented government from capturing more revenues.

Former BOI managing head Vicente Perez, who is now Energy Secretary, said the review would have to determine the proper way of computing the base for the tax imposed on automobiles.

"We have to simplify taxation because every time we create artificial breakpoints there would be lesser and lower excise tax level," Perez said.

For instance, Perez noted there are ways …