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Claims suspending fuel excise tax would largely benefit the rich (Eagle News) – Finance Secretary Carlos Dominguez III said that the government expects to collect P147 billion in taxes this year from fuel, particularly P131.4 billion in excise taxes and P15.8 billion in VAT or value added tax. The funds to be generated from these taxes would be used for the government’s ‘Build, Build, Build” projects, and for the salaries of government employees, including […]
(Eagle News)–President Rodrigo Duterte has signed a law increasing excise taxes on alcohol, heated tobacco and vapor products. Duterte’s move came barely a month after the Senate and the House of Representatives submitted the ratified bicameral report on the measure that also removes the value-added tax imposed on medicines for heart disease, cholesterol and diabetes starting January 2020. The measure, which had been certified as urgent by Duterte, also removes VAT for medicines for mental […]
(Eagle News)—President Rodrigo Duterte has signed Republic Act 11346 which raised the excise tax on all tobacco products as a move to “protect the right to health of the Filipino people.” Executive Secretary Salvador Medialdea announced that President Duterte signed House Bill No. 8677 and its counterpart bill in the Senate, Senate Bill no. 2233 into law on Thursday, July 25. The new law, RA 11346, would impose higher excise taxes on cigarettes from P35 […]
(Eagle News) — Senator Bam Aquino has renewed his call for the suspension of the excise tax on fuel following what he said was a recent “big-time fuel price hike” due to an increase in oil prices in the world market. “Nalulunod pa rin sa mahal na presyo ng pagkain at bilihin ang ating mga kababayan kaya napakalaking pagkakamali na payagan ang ikalawang bahagi ng excise tax sa ilalim ng (Tax Reform for Acceleration and […]
(Eagle News) – The Associated Labor Union-Trade Union Congress of the Philippines (ALU-TUCP) is seeking a P313 wage increase for minimum wage of earners in Metro Manila, according to ALU-TUCP Spokesperson Alan Tanjusay. Tanjusay said that based on their computation, the nationwide minimum wage of workers should amount to Php 850 to cope up with the increasing prices of goods and services. This is also in consideration of the expected imposition of an additional excise […]
(Eagle News)–Senator Sonny Angara urged the country’s economic managers to ensure inflation will go down and that Filipinos will be able to get their support from the government before deciding to push through with the second round of excise tax hike on petroleum products. “We recognize that international prices of petroleum have been going down and will continue to decline in 2019. This led to seven consecutive weeks of price rollbacks, with pump prices of […]
(Eagle News) — Senator Bam Aquino on Wednesday, Nov. 14, hailed the temporary suspension of excise tax on fuel products next year. “Nagpapasalamat tayo sa Presidente at sa kanyang economic managers sa pag-aksyon sa isyu na matagal nang daing ng mga pamilyang nahihirapan sa taas ng presyo ng bilihin,” Aquino said. Aquino expressed hope the temporary suspension would eventually lead to the junking overall of taxes imposed by the Tax Reform on Acceleration and Inclusion […]
(Eagle News) – President Rodrigo Duterte has decided to temporarily suspend the implementation of the additional fuel excise tax to “arrest the rising price of oil” and to tame inflation, according to Special Assistant to the President Christopher “Bong” Go. In his speech at the opening of the TienDA Malasakit Store in Taguig City on Sunday, October 14, Go said that the temporary suspension of the second tranche of the fuel excise tax would be […]
(Eagle News)–Senator Bam Aquino on Wednesday, Sept. 19, renewed his call for the passage of the Bawas Presyo Bill following what he said was another round of price increases in fuel. Senate Bill No. 1798 aims to suspend the excise tax on fuel under the Tax Reform for Acceleration and Inclusion Law “when the average inflation rate surpasses the annual inflation target over a three-month period.” “Kumilos na tayo. Hindi pwedeng nganga lang ang gobyerno sa […]
(Eagle News) — Senator Grace Poe on Friday, June 1, said the government should be giving subsidies to drivers who were affected by the increase in prices of gasoline. “May mga safeguards diyan katulad ng pagbibigay ng umento at vouchers din sa ating mga drivers para sa gasoline. So nais nating tanungin ang DOF, ano ba ang mga ginagawa nila para matulungan ang mga drivers?” Poe asked. “Masasabi ko sa DOF, ‘nasaan na ang pinangako […]
(Eagle News) — President Rodrigo Duterte on Wednesday, May 30, defended the implementation of the Tax Reform for Acceleration and Inclusion law, saying money was needed to fund government programs. “Inflation is always there. There are many reasons, but actually, one of them is TRAIN. But I need money also to run the country. If you do not give it, fine,” Duterte said. The President made the statement after several senators called for the suspension […]
(Eagle News)–The Department of Energy on Saturday, May 26, said it would recommend the suspension of excise tax on fuel if its price reaches $80 per barrel for three consecutive months. Energy Undersecretary Donato Marcos said in a radio dzbb interview that the recommendation, should it push through, would be given to the Department of Finance. In the meantime, he said they were monitoring gasoline stations, and were now requiring them to give a detailed […]
