DOF: Expect fuel excise tax suspension or reduction by April 12-13

MANILA, Philippines— President Ferdinand Marcos Jr. may order the suspension or reduction of excise taxes on petroleum products by April 12 or 13, an official of the Department of Finance (DOF) told senators on Thursday. DOF is part of the Development Budget Coordination Committee (DBCC) tasked to make recommendations to the president to either suspend or reduce the levy in accordance with the newly signed law, Republic Act No. 12316. “In terms of the timeline, there is the 15-day period (after completion of) publication and effectivity. So the earliest that the president can issue the EO (executive order) is around […]... Keep on reading: DOF: Expect fuel excise tax suspension or reduction by April 12-13

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