MANILA - Ride-hailing service Grab will seek government's approval to increase fares to cover the effect of new duties on fuel and cars, an official said Wednesday.
Grab will seek a fare increase of 6-10 percent in a petition to be filed before the Land Transportation Franchising and Regulatory Board this week, said its Philippines country head Brian Cu.
The first package of President Rodrigo Duterte's tax reform took effect last Jan. 1, raising taxes on fuel, cars and sugar-sweetened drinks among others to offset a reduction in personal income tax rates.
The first package includes a P2.50 per liter tax on diesel, and an increase in duties on gasoline to P7 from P4.35 in its first year of implementation.
Grab rival Uber was not immediately available for comment. - report from Jacque Manabat, ABS-CBN News