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A deputy speaker last Thursday urged the Development Budget Coordination Committee (DBCC) to convene and firm up recommendation on the pending proposal in Congress suspending the excise tax on imported crude and fuel amid surging global oil prices. Deputy Speaker Bernadette Herrera-Dy of Bagong Henerasyon Party-list made a statement as Congress…
DBM sees release of fuel subsidy this week or next week
LOCAL economists are urging the President’s economic team to consider the suspension of taxes on oil and wheat imports to cushion the impact of hostilities in Eastern Europe on consumers. Also on Thursday, the Cabinet-level Development Budget Coordination Committee (DBCC) said the government stands ready to provide a total of…
The Bureau of Customs (BOC) reported last Monday its task force against fuel smuggling has progressed with 81,000 liters of smuggled petroleum seized since it was created months ago. This was what BoC officials told lawmakers during a hearing of the House of Representatives tax committee. House Ways and Means…
ALBAY Rep. Joey Sarte Salceda believes the country can recover fiscal costs even if government reduces excise taxes on diesel, kerosene and gasoline in six months, a move the lawmaker said could cushion the impact of rising fuel costs and as prescribed by a law he helped craft. In an…