Tag page - excise tax

The Department of Finance (DOF) has advised caution in suspending excise tax on petroleum as it will incur substantial revenue losses for the government and may affect the budget for coronavirus recovery measures. In a memorandum submitted to Finance Secretary Carlos G. Dominguez III, Finance...

The Department of Energy (DOE) is seeking the temporary suspension of the imposition of excise tax on fuel as oil price continues to soar in the past several months. (MARK BALMORES / MANILA BULLETIN FILE PHOTO) DOE Secretary Alfonso Cusi said Wednesday, Oct. 20, that he wants it suspended during...

PMFTC Inc., the local affiliate of Philip Morris International (PMI), remained the country’s largest cigarette manufacturer in terms of sin tax contributions to government revenue, data from the Department of Finance (DOF) showed. PMFTC Based on the DOF’s analysis, the company behind the...