House leader pushes for 4-year suspension of excise tax on fuel

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Energy Assistant Secretary Gerardo Erguiza Jr. said agency had already asked the Department of Budget and Management if there are sources of funds for fuel subsidies, adding that the DOE is studying the possibility of using revenues from oil excise taxes to finance the program.

Geremy S. Pintolo, file

 

MANILA, Philippines — House Deputy Speaker Rufus Rodriguez filed Thursday a bill seeking to suspend from 2022 to 2025 the imposition of excise taxes on fuel based on the Tax Reform for Acceleration and Inclusion (TRAIN) law.

 

House Bill No. 10246 proposes that the government collect excise taxes on fuel from Jan. 1, 2022 to Dec. 31, 2025 based on the rates provided under the National Internal Revenue Code before it was amended by the TRAIN law.

 

If passed into law, this means that excise taxes on regular gasoline and unleaded gasoline will drop to P4.35 per liter and P5.35 per liter, respectively, while excise taxes will not be imposed on diesel, kerosene and liquified petroleum gas (LPG).

 

Full Story: https://www.philstar.com/headlines/2021/10/29/2137571/house-leader-pushes-4-year-suspension-excise-tax-fuel

 

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