DAVAO CITY – The city government of Davao will implement an expanded package of tax incentives to encourage new investments and strengthen the city’s overall business climate. Councilor Myrna Dalodo-Ortiz, chairperson of the Committee on Trade, Commerce, and Industry, said the new measure will...
Is President Marcos being fed the wrong information by his economic managers, resulting to the delay in the suspension of the excise tax on diesel and gasoline? House Legislative Energy Action Development (LEAD) Council presiding officer, Marikina City 2nd district Rep. Miro Quimbo; and Deputy...
The Bureau of Internal Revenue’s (BIR) tax collections rose by double digits in March, providing a critical fiscal buffer for the Marcos administration as it grapples with persistent energy crisis that threatens to dampen domestic demand. Preliminary data released by the agency on Wednesday,...
Senator Loren Legarda called for the immediate suspension of fuel excise tax and value-added tax (VAT) on diesel and gasoline, even as she criticized the slow government response to elevated fuel prices. This follows the April 13, press conference of President Marcos, where he announced the...
President Marcos has extended the deadline of filing of 2025 income tax returns (ITR) from April 15 to May 15. It aims to give taxpayer more time to file their ITR properly without incurring penalties. "Pinalawig natin ang deadline ng filing ng 2025 Annual Income Tax Returns mula April 15 hanggang...
Senator Imee Marcos rued her brother, President Marcos ' decision not to include diesel in the short list of petroleum products covered by excise tax suspension. "Nagtanggal nga sila ng excise tax pero hindi pa nila isinama ang diesel na siyang numero unong ginagamit ng ating mga driver,...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2026, publishing the updated list of medicines exempt from 12-percent value-added tax (VAT), as endorsed by the Food and Drug Administration (FDA). Released on April 8, 2026, the circular covers 2,263...
Liquefied petroleum gas (LPG) retailers have vowed to immediately reduce the prices of their products--which Filipino households use as cooking has--once President Marcos issues the executive order (EO) suspending the excise tax on it. REGASCO President and former Liquefied Petroleum Gas Marketers...
Why were gasoline and diesel not part of the excise tax suspension on petroleum products on Monday, April 13? President Marcos said these will be discussed during a meeting with the UPLIFT Committee on Tuesday. "That 's to be discussed tomorrow," he said when asked in a press briefing,...
Senator Loren Legarda on Monday, April 13 urged the government to consider the immediate suspension of fuel excise tax and value-added tax (VAT) on diesel and gasoline as millions of Filipinos still do not feel the government’s relief from the fuel hikes and rising prices of basic commodities. ...
President Marcos on Monday, April 13, announced the suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene, as part of government efforts to cushion the impact of rising fuel prices. “Tinanggal ko na ang excise tax sa LPG at sa kerosene (I have removed the excise tax on LPG and...
The expected lifting or reduction of excise taxes on petroleum products must take effect swiftly, or right after President Marcos greenlights it via an executive order (EO). Marikina City 2nd district Rep. Miro Quimbo, presiding officer of the Legislative Energy Action Development (LEAD) Council,...
