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Senator Kiko Pangilinan underscored the need for the government to protect the agriculture and fisheries sector amid the continued spike in fuel prices caused by the Middle East conflict, pointing out its serious consequences and impact on national food security and the livelihood of farmers and fisherfolk who are already struggling with rising production costs. […]
Senator Bong Go expressed readiness to support measures that would ease the burden on Filipinos should global oil prices surge to $80 per barrel, stressing the ripple effects of higher fuel costs on basic commodities while voicing deep concern over the safety of overseas Filipino workers (OFWs) in the Middle East. With gasoline now hovering […]
Senator Chiz Escudero called for amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Law that will empower the President to suspend or lower excise and value‑added taxes (VAT) on fuel whenever global oil prices exceed the benchmark assumptions for Dubai crude set in the government’s Budget of Expenditures and Sources of Financing (BESF). […]
Senator Kiko Pangilinan called on the government to suspend excise taxes on fuel and activate fuel subsidies programs to cushion the economic impact on Filipino workers of the escalating tensions in the Middle East. Doing so, Pangilinan said during his manifestation of Senator Erwin Tulfo’s privilege speech will mitigate the anticipated increase in prices of […]
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 […]