Marcos Signs EO Suspending Excise Tax on Petroleum Products

Marcos suspends excise taxes on LPG, kerosene anew

The tax relief does not extend to gasoline and diesel, as Finance Secretary Frederick Go says this would 'not be progressive' because higher-income consumers who use more of the two fuels would capture more of the benefit

Marcos suspends excise tax on LPG, kerosene

Marcos ordered the suspension after a recommendation from the Development Budget Coordination Committee and the Department of Energy.

Marcos signs EO suspending excise tax on petroleum products

MANILA, Philippines — President Ferdinand Marcos Jr. signed Executive Order 125 on Friday, suspending the excise taxes on specific petroleum products.This comes after crude oil prices breached the $80-per-barrel threshold due to the geopolitical tensions in the Middle East.Under Republic Act 12316, the President is authorized to suspend or reduce these levies upon the recommendation of the Development Budget Coordination Committee (DBCC) when pr…

PBBM sinuspinde ang excise tax sa LPG, kerosene

Sinuspinde ni Pangulong Ferdinand Marcos Jr. ang excise tax sa liquefied petroleum gas (LPG) at kerosene matapos pumalo sa US$99.41 kada bariles ang average na presyo ng Dubai crude oil. Sa ilalim ng Executive Order No. 125, pansamantalang walang excise tax ang LPG, maliban kung ginagamit bilang hilaw na materyales sa paggawa ng petrochemical products. […]

Philippines Suspends LPG, Kerosene Excise Duties

The Philippines has temporarily suspended excise duties on liquefied petroleum gas (LPG) and kerosene as the government struggles to deal with soaring fuel costs from the Middle East war. The presidential palace said on Friday that the measure covers LPG, the country’s main cooking fuel, and kerosene under an executive order issued by President Ferdinand Marcos. “The excise taxes on LPG, except when used as a raw material for production of petro…

Pangulong Marcos, sinuspinde ang excise tax sa LPG at kerosene

Sinuspinde ni Pangulong Ferdinand Marcos Jr., ang excise tax sa LPG at kerosene dahil sa patuloy na pagtaas ng presyo ng langis. Sa ilalim ng Executive Order No. 125, sakop ng suspensiyon ang LPG, maliban kung ginagamit bilang raw material sa paggawa ng petrochemical products o bilang fuel sa sasakyan. Sakop din ang kerosene, maliban […]