(Eagle News) — The government has lost an estimated P145 billion annually in foregone revenues because of the non-adjustment of fuel excise taxes for the past two decades, the Department of Finance revealed during a public hearing at the House Committee on appropriations. The DOF said that this loss was equivalent to about 1 percent of the country’s Gross Domestic Product (GDP). “The non-adjustment of fuel excise taxes for the past two decades has […]