Uot He Said The Excise Tax Is Currently Pegged At Php10 Per Liter Of Regular And Unleaded Premium Gasoline Php6 Diesel News Today : Breaking News, Live Updates & Top Stories | Vimarsana
(File photo) MANILA - A lawmaker on Tuesday said the temporary provision regarding the automatic fuel tax cut under the Tax Reform for Acceleration and Inclusion (TRAIN) law should be made permanent to bring down the cost of fuel and provide instant relief to the Filipino people. In a statement, Camarines Sur Rep. Luis Raymund Villafuerte said the TRAIN law's provisional authority to suspend the fuel excise tax whenever the USD80-price cap is breached ended in 2020. Villafuerte said the proposed tax suspension aims to shield ordinary Filipinos from "further adversities that may be caused by unforeseen economic downturns." "Geopolitical conflicts and other developments in world markets have been driving up the cost of petroleum products, which, in turn, have jacked up transportation expenses and food prices responsible for the seemingly unending elevated inflation that now threatens to slow the global economy and possibly even lead to recession in most parts of the wo