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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 […]
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 […]
Senator Win Gatchalian raised the need for transparency in the pricing mechanism of oil and petroleum products in the downstream oil industry. The Chairman of the Senate Energy Committee made the call following a Supreme Court ruling barring a Manila trial court from directing the Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), and […]
Senator Koko Pimentel III has called for the exemption of petroleum products from the coverage of the value-added tax (VAT) to help cushion the impact of the implementation of the second tranche of the fuel excise tax. “As a means of easing the burden on the public, this bill proposes to exempt petroleum products from […]
Senator Joel Villanueva has filed a bill seeking to fix the excise tax hike for fuel products under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. The TRAIN Law raised the excise taxes on fuel products effective January 2018. The law also provides for additional increases scheduled in 2019 and 2020. Under Senate Bill […]