IKOT.PH
Occidental Mindoro Representative Leody Tarriela has filed a bill aimed at cushioning the impact of high gasoline and diesel prices by applying progressive excise taxation on fuel amid the projection that prices of diesel would increase by as much as P6 per liter of gasoline. Under House Bill No. 3628, the excise tax shall gradually […]
Senator Koko Pimentel III sent his appeal to the incoming Marcos administration to identify and remove taxes and other fees in fuel transactions that can minimize the effects of surging prices of petroleum products. Pimentel said removing the excise tax and other fees on fuel is an Executive action but the veteran legislator will file […]
Increase taxes on vices so that we can reduce taxes on essentials like petroleum products. This was suggested by House Deputy Speaker Bienvenido “Benny” Abante, Jr., who on Thursday proposed raising the excise taxes on tobacco and alcoholic beverages––commonly referred to as “sin” taxes––to offset the losses from reducing the excise taxes on fuel. The […]
A leader of the House of Representatives said Congress should review the unbundling of the oil prices and the inclusion of the minimum inventory requirements provision to the Oil Deregulation Law amid skyrocketing oil prices. House Committee on Economic Affairs chair Rep. Sharon Garin said the country experienced an average increase of P5-5.85 per liter […]
Senate Majority Leader Migz Zubiri is pushing to suspend the excise tax on fuel products, amid skyrocketing fuel prices sparked by Russia’s war on Ukraine. Further, Zubiri is also calling for stronger implementation of the Biofuels Act, as an option for alternative fuels. “With these prices, we should consider the temporary suspension of the fuel […]
Deputy Speaker Rufus Rodriguez said there is more compelling reason to suspend the excise taxes on oil products due to the worsening Russia-Ukraine crisis, as he echoed his fellow lawmakers’ appeal for leaders of Congress to recommend to President Rodrigo Duterte the holding of a special session. “I support the proposal of my colleagues for […]
With farmers, fisherfolk, and other marginalized sectors bearing the brunt of the oil price hike, Senator Kiko Pangilinan calls to suspend excise tax on fuel under the TRAIN Law. “Dapat palaging isipin kung sino ang mga pinaka-apektado. Palaging ang papasan nito ay ang mga maliliit — ang mga magsasaka na umaasa sa krudo para sa […]
A panel of the House of Representatives approved a measure seeking to impose a P20 excise tax per kilo of single-use plastic bags. The House Ways and Means Committee, chaired by Albay Representative Joey Salceda, approved the committee report on the substituted bill to House Bill 178, which seeks to add a new section designated […]
To protect consumers from premature price increases and profiteering, Senator Win Gatchalian is urging the Department of Energy (DOE) to create a task force that will closely monitor the implementation of the new round of increases in excise tax on fuel this month. Gatchalian is making the call as the third and last tranche of […]
The House of Representatives has ratified the bicameral conference committee report on a bill seeking to raise the excise tax rates on alcohol products as well as heated tobacco and vapor products in the country. The proposal seeks to amend the Republic Act No. 8424 or the “National Internal Revenue Code of 1997.” This is […]