The government would need to borrow additional money from creditors should taxes on petroleum products are suspended, the Department of Finance (DOF) warned. Finance Secretary Carlos G. Dominguez III said suspending fuel excise taxes will only provide temporary and minimal relief to consumers, but...
President Duterte has approved the recommendation to retain the fuel excise tax under the Tax Reform for Acceleration and Inclusion (TRAIN) Law amid the continuing increase of oil and petroleum products prices, Malacañang announced. President Rodrigo Duterte (Malacañang photo) Communications...
President Duterte emphasized that he cannot immediately act on the concerns of lawmakers on proposals to stop "e-sabong" operations or suspend the excise taxes on fuel. President Rodrigo Roa Duterte presides over a meeting with key government officials prior to his "Talk to the People" at the...
NORTH COTABATO—As oil companies impose the biggest increase in fuel prices for 11 weeks straight, Vice President Leni Robredo on Tuesday, March 15, laid down a four-point plan to address the oil price hike that burdens commuters, motorists, and public utility vehicle drivers. Vice President Leni...
The Fiscal Incentives Review Board (FIRB) has approved the tax incentives for a P1.5-billion Cebu-based roll on roll off (RoRo) operator that aims to help modernize the shipping industry and increase competition. Finance Secretary Carlos G. Dominguez III said Tuesday, March 15, that the FIRB...
The Makabayan Coalition has underscored their call to stop the act of red-tagging, and to start implementing tax cuts to counter the fuel crisis during a press conference on Monday, March 14. Makabayan Bloc logo (Photo from Wikipedia) They alleged that the administration had taken more interest in...
Presidential candidate Senator Panfilo ‘Ping’ M. Lacson on Monday, March 14 said a Lacson presidency would rather focus on improving revenue collections by eliminating corruption to avoid encumbering Filipinos with more expenses than they could shoulder rather than raising taxes. “New tax...
With fuel prices expected to shoot up yet again, the government should immediately implement a temporary suspension of excise taxes on fuel products to cushion its impact on consumers, presidential candidate Senator Panfilo "Ping" Lacson said on Sunday. Lacson, standard bearer of Partido Reporma,...
Presidential bet Ferdinand “Bongbong” Marcos Jr.'s spokesman Vic Rodriguez has described Aksyon’s Demokrariko's statements as “reckless” and “abhorrent" as the party sounded off on the alleged P203-billion tax liabilities of the Marcoses. Presidential candidate Bongbong Marcos...
Personal income tax (PIT), which is withheld from an employee's salary and paid to the government, remained a major revenue stream for the government despite the lowering of rates on individual taxpayers and the pandemic-induced economic slowdown. Data released from the Department of Finance (DOF)...
Manila Mayor and presidential aspirant Francisco "Isko Moreno" Domagoso lauded President Duterte on Thursday, March, 10, after the national government increased the fuel subsidy for public utility vehicle (PUV) drivers by 50 percent, equivalent to P5 billion, amid the weekly increase in fuel prices...
Senator Christopher Lawrence “Bong” Go on Friday, March 11 said he supports proposals for a temporary moratorium on the collection of excise taxes on oil products to help Filipinos cope with the economic shocks as the Russia-Ukraine conflict drives up oil prices across the globe. Go emphasized...
