The House of Representatives has finally transmitted to the Senate House Bill (HB) No. 8418, which authorizes the President to temporarily suspend or reduce fuel excise tax as a way to help cushion the impact of global oil price spikes on Filipinos. Signed on Tuesday, March 24 by Speaker Faustino...
Malacañang said President Marcos has yet to receive the emergency powers bill allowing the suspension or reduction of excise taxes on fuel, but assured the public that he will sign it immediately once it reaches his desk. In her press briefing on Monday, March 23, Presidential Communications...
President Marcos said the government’s decision to suspend or reduce excise taxes on fuel will depend on global oil price movements, stressing that the situation remains highly unpredictable amid the ongoing conflict in the Middle East. Marcos said this after Congress approved on the third and...
The Senate is looking to pass next week the bill authorizing the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies. This was after President Marcos certified it as urgent. Yet the Senate cannot sponsor a counterpart bill until the...
President Marcos has certified as urgent a bill authorizing the president to suspend or reduce excise taxes on petroleum products during national or global economic emergencies. In a letter dated March 12 addressed to House Speaker Faustino Dy III, Marcos said the immediate enactment of House Bill...
Senators are now seeking to grant the President authority to suspend or reduce taxes on petroleum products during times of global oil supply disruptions due to external shocks. Sen. Francis “Chiz” Escudero and Sen. Francis “Kiko” Pangilinan each filed separate bill empowering a sitting...
ILOILO CITY — Rep. Julienne “Jam-Jam” Baronda of this city has filed a bill authorizing President Ferdinand R. Marcos Jr. to temporarily suspend or reduce excise tax on petroleum products due to the Middle East war. “This measure aims to cushion Filipino consumers and the national economy...
BACOLOD CITY – The provincial government of Negros Occidental backs the plan of President Ferdinand R. Marcos Jr. to seek emergency powers that would allow the national government to reduce excise taxes on petroleum products as oil prices surge due to the crisis in the Middle East. Gov. Eugenio...
Senator Francis “Chiz” Escudero has called on lawmakers to consider amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Law and grant the President permanent powers to deal with rising oil prices. Escudero noted that the current safeguard in the TRAIN law or Republic Act No....
President Marcos will certify as urgent a proposal that seeks to grant him authority to reduce the excise tax on petroleum products should prices exceed $80 per barrel, Malacañang said. Palace Press Officer and Communications Undersecretary Claire Castro said that since the President was the one...
At least two senators have filed the measure seeking to grant President Ferdinand “Bongbong” Marcos Jr. the authority to suspend or reduce fuel excise tax in response to the Middle East conflict. Sen. Joel Villanueva filed Senate Bill No. 1922, which authorizes the President, upon the...
Senators on Tuesday, March 3 supported the proposal to give President Ferdinand “Bongbong” Marcos Jr. the authority to reduce or suspend fuel excise taxes as global oil markets react to the escalating conflict in the Middle East. Senate Majority Leader Juan Miguel “Migz” Zubiri said...
