Oil firms yesterday announced a rollback in their petroleum products effective today.
Effective 12:01 a.m. today, major oil player Pilipinas Shell will shed P0.30 per liter on premium gasoline (including unleaded), P0.65 per liter on diesel, P0.60 per liter on kerosene and P0.40 per liter on regular gasoline.
Eastern Petroleum Philippines, an independent oil player, would also cut its pump prices by the same levels and would also be effective 12:01 a.m. today.
Tax benefit to help
The Philippine Health Insurance Corp. yesterday said a tax benefit would cushion most of its self-employed and individually paying members -- those earning not more than P250,000 yearly -- from the upward adjustment of contributions.
“We expect most of our 4.22 million self-employed members to be shielded by a tax allowance,” Dr. Eduardo Banzon, Philhealth president and chief executive officer, said in a press release.
Banzon was referring to a concession under the National Internal Revenue Code that allows salaried workers and self-employed individuals to spend up to P2,400 yearly for health and/or hospitalization insurance premium, and then deduct the amount from their taxable income.
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