GRAB to petition up to 10% fare hike with new tax reform law

A TRANSPORT network company (TNC) will petition the Land Transportation Franchising and Regulatory Board (LTFRB) this week for a 6 to 10 percent fare increase in line with the implementation of the new tax reform law that would impose excise taxes and value added tax on petroleum products.

"The logic behind surge has nothing to do behind the logic behind the operating cost. One thing we can explore is this increase we are filing for will not be surgeable," Brian Cu, country head of Grab Philippines, said in a press briefing in Makati on Wednesday.